SEOUL, April 10 (AJP) -Asian markets opened broadly higher Friday as investors bet on easing tensions as U.S. and Iranian delegates are set to hold face-to-face talks following a ceasefire in Pakistan on Saturday.
In Seoul, the benchmark KOSPI rose 1.82 percent to 5,883.03, while the junior KOSDAQ gained 1.36 percent to 1,090.68 as of 11:05 a.m.
The market largely brushed off the Bank of Korea’s rate freeze — extended for nearly a year — with policy inertia already priced in amid conflicting pressures from rising import costs and a slowing economy tied to the prolonged Gulf conflict.
Among movers, Hanwha Solutions gained 1.25 percent to 40,550 won as investors welcomed the Financial Supervisory Service's refusal to greenlight its planned 2.4 trillion won rights offering, calling for revisions to the financing structure.
Tech heavyweights led gains.
Samsung Electronics rose 2.57 percent to 209,250 won, while SK hynix climbed 3.71 percent to 1,035,000 won as it is expected to deliver equally stellar first-quarter earnings following Samsung’s upbeat guidance earlier this week.
Battery and energy stocks traded mixed, with LG Energy Solution falling 1.07 percent and Samsung SDI edging up 0.52 percent.
Automakers showed a muted performance. Hyundai Motor added 0.66 percent, while Kia slipped 0.13 percent.
Shipbuilders advanced, with HD Hyundai Heavy Industries rising 1.49 percent, while financials tracked higher as KB Financial Group and Shinhan Financial Group gained 1.95 percent and 1.86 percent, respectively.
Japan’s Nikkei 225 rose 1.57 percent, China’s Shanghai Composite added 0.78 percent, and Hong Kong’s Hang Seng Index gained 1.18 percent.
The Korean won strengthened modestly to 1,479.10 per dollar, from 1,482.5 won at the previous close.
Oil prices moved higher despite the ceasefire optimism, with Brent crude rising 1.23 percent to $95.92 a barrel and West Texas Intermediate jumping 3.66 percent to $97.87, underscoring lingering supply concerns.
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