South Korean stocks opened higher on Friday and Wall Street rose, largely as weaker-than-expected U.S. inflation data sparked speculation that the Federal Reserve may ease its tightening mode.
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The benchmark Korea Composite Stock Price Index had jumped up 69.71 points, or 2.9%, at 2,471.94 as of 9:15 a.m. Overnight, the tech-heavy NASDAQ Composite declined 7.35 percent. The Dow Jones Industrial Average and the S&P 500 climbed 3.7 percent and 5.54 percent, respectively.
In Seoul, market leader Samsung Electronics rose 3.81 percent, while No. 2 chipmaker SK Hynix gained 6.51 percent. Moreover, top automaker Hyundai Motor increased by 1.77 percent, and internet portal operator Naver surged by 8.52 percent.
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