Stocks open higher before U.S. CPI data, Fed rate-setting meeting

The Kospi added 12.57 points, or 0.5 percent, to 2,537.93 in the first 15 minutes of trading.

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Monday. [YONHAP]

Shares opened higher Tuesday as investors await this week's U.S. inflation data, as well as the U.S. Federal Reserve's rate-setting meeting.

The Kospi added 12.57 points, or 0.5 percent, to 2,537.93 in the first 15 minutes of trading.

The United States is set to release its consumer price index on Tuesday, with investors also closely eyeing the future monetary policy direction from the Federal Open Market Committee meeting.

In Seoul, tech shares traded higher, with Samsung Electronics rising 0.55 percent and chipmaker SK hynix increasing 1.78 percent.

Financial firms gained ground, with KB Financial moving up 1.36 percent and Shinhan Financial climbing 0.68 percent.

Oil refiner SK Innovation gained 0.37 percent, and S-Oil rose 0.45 percent.

The local currency was trading at 1,316.7 won against the dollar, up 0.2 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]