South Korean stocks opened slightly higher Tuesday as investors are awaiting the release of major U.S. economic data due later this week.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.8 points, or 0.22 percent, to 2,624.10 in the first 15 minutes of trading.

Overnight, major U.S. indexes finished mixed, with the S and P 500 almost unchanged, the Dow Jones Industrial Average down 0.4 percent, and the tech-heavy Nasdaq composite up 0.2 percent.

Investors’ eyes are on the U.S. consumer price index and retail sales data to be released consecutively starting Wednesday (U.S. time), which will give further clues on whether the world’s biggest economy will likely face a recession.

Market bellwether Samsung Electronics increased 0.93 percent, and its chipmaking rival SK hynix jumped 2.37 percent, tracking U.S. AI chip giant Nvidia’s gain overnight.

But leading battery maker LG Energy Solution dropped 1.22 percent, and its smaller rival Samsung SDI slid 2.03 percent.

Major bio firms Samsung Biol
ogics and Celltrion lost 1.26 percent and 1.75 percent, respectively.

The local currency was trading at 1,370.60 won against the U.S. dollar, up 1.4 won from the previous session’s close.

Source: Yonhap News Agency