Seoul shares open sharply higher on US gains amid eased inflation woes

South Korean shares opened sharply higher Friday, led by gains in major chipmakers, tracking an overnight rally in US shares, as latest US data eased woes over accelerating inflation. The benchmark Korea Composite Stock Price Index opened 182.33 points, or 2.7 percent, higher at 6,995.67. Overnight, the US stock market rose to an all-time high amid easing oil prices. The S&P 500 climbed 0.7 percent. The Dow Jones Industrial Average added 0.1 percent, and the tech-heavy Nasdaq Composite gained 0.

By The Korea Herald