Seoul shares start higher amid eased inflation woes, political uncertainties

South Korean stocks opened a tad higher Monday amid eased woes over U.S. inflation and rising political uncertainties. The benchmark Korea Composite Stock Price Index (KOSPI) added 0.95 point, or 0.03 percent, to 2,798.77 in the first 15 minutes of trading. Last week, U.S. key inflation data of the personal consumption expenditures price index rose 0.1 percent on-month for May, meeting the market expectations. However, escalating uncertainties over the upcoming U.S. presidential election weighed heavily on the market after President Joe Biden's weak showing in his first debate. In Seoul, large-cap shares started in mixed territory. Market bellwether Samsung Electronics rose 0.61 percent, but its chipmaking rival SK hynix fell 0.42 percent. Top automaker Hyundai Motor dropped 0.68 percent, but its sister Kia gained 0.15 percent. Leading battery maker LG Energy Solution climbed 0.31 percent, while steel giant POSCO Holdings declined 0.14 percent. The local currency was trading at 1,383.6 won against th e U.S. dollar, down 6.9 won from the previous session's close. Source: Yonhap News Agency