Kospi climbs 1.04% as stocks open strong ahead of Big Tech earnings

Korean stocks had a strong start on Friday, following overnight gains on Wall Street.

Screens in Hana Bank's trading room in central Seoul show the Kospi trading at 2,570.51 points on Friday, up 1.10 percent, or 28.05 points, from the previous trading session. [YONHAP]

Korean stocks had a strong start on Friday, following overnight gains on Wall Street.

The benchmark Kospi climbed 26.37 points, or 1.04 percent, to 2,568.83 in the first 15 minutes of trading.

Overnight, U.S. stocks gained ground as investors looked forward to earnings reports from Apple, Amazon and Meta Platforms.

The S&P 500 gained 1.2 percent, while the Dow Jones Industrial Average and the Nasdaq composite rose 1 percent and 1.3 percent, respectively.

In Seoul, chip and auto shares led overall gains, with Samsung Electronics adding 0.95 percent and Hyundai Motor soaring 4.57 percent.

Financial stocks and internet portal operators also got a strong boost. KB Financial rose 1.96 percent, and Naver added 5.68 percent after stellar fourth-quarter earnings.

Battery makers and energy shares also advanced, with LG Energy Solution rising 0.52 percent and SK Innovation jumping 0.41 percent.

The local currency was trading at 1,326.10 won against the dollar, up 5.7 won from the previous session's close.

BY SEO JI-EUN, YONHAP [seo.jieun1@joongang.co.kr]