Seoul shares open tad higher on battery, steel gains

Seoul shares opened slightly higher Monday, led by gains in battery and steel shares. The benchmark Korea Composite Stock Price Index rose 0.05 percent, or 1.3 points, to 2,651.08 in the first 15 minutes of trading. Battery and steel shares led the overall gains, with industry leaders LG Energy Solution and POSCO Holdings increasing 2.53 percent and 1.94 percent, respectively. Bio and internet service operators also added momentum. Samsung Biologics rose 0.91 percent, and top internet portal operator Naver soared 3.29 percent. In contrast, chip stocks lost ground. Market heavyweight Samsung Electronics slumped 1.25 percent, and chip rival SK hynix tumbled 1.58 percent. The local currency was trading at 1,311.25 won against the U.S. dollar, up 7.35 won from the previous session. Source: Yonhap News Agency