SEOUL, May 20 (Yonhap) -- South Korean stocks started higher Monday on continued hopes for a possible U.S. rate cut.
The benchmark Korea Composite Stock Price Index gained 19.76 points, or 0.73 percent, to 2,744.38 in the first 15 minutes of trading.
On Wall Street on Friday (U.S. time), U.S. stocks rallied to hit a record high, with the Dow Jones Industrial rising 0.34 percent to top the 40,000 point line for the first time.
In Seoul, market heavyweights opened bullish.
Top cap Samsung Electronics jumped 1.16 percent, and its chipmaking rival SK hynix advanced 1.32 percent.
No. 1 carmaker Hyundai Motor rose 0.82 percent, and leading battery maker LG Energy Solution climbed 0.66 percent.
Steel giant POSCO Holdings added 0.88 percent, and CJ Cheiljedang, the top F&B firm, increased 1.5 percent.
The local currency was trading at 1,356.55 won against the U.S. dollar, down 1.65 won from the previous session's close.
brk@yna.co.kr
(END)
