Seoul shares open sharply up on bargain hunting

South Korean shares opened higher Thursday as investors sought to pick up blue chip bargains, one day after the local market plunged by more than 3 percent on U.S. woes. The benchmark Korea Composite Stock Price Index (KOSPI) added 21.63 points, or 0.84 percent, to 2,602.43 in the first 15 minutes of trading. The index had dipped 3.15 percent the previous day on growing concerns of a U.S. economic slowdown following a worse-than-expected manufacturing purchasing managers index for August. U.S. stocks closed mixed overnight. The Dow Jones Industrial Average inched up 0.09 percent, following its 1.51 percent plunge the previous day, while the tech-heavy Nasdaq fell for a second consecutive session by dipping 0.30 percent. In Seoul, large caps traded mixed. Market kingpin Samsung Electronics gained 1.14 percent, with the world's No. 2 chipmaker SK hynix surging 3.10 percent. Leading carmakers Hyundai Motor and Kia Motors added 0.65 percent and 0.70 percent, respectively, while top battery maker LG Energy Solution advanced 0.63 percent. The local currency was trading at 1,335.65 won against the U.S. dollar, up 6.55 won from the previous session. Source: Yonhap News Agency