Economy

Seoul stocks open higher on Wall Street gains

Posted: Sep. 12, 2017 8:00 am Updated: Sep. American benchmark West Texas Intermediate was at $49.39 - a 2.3 percent increase.

The Dow is up 2,395.58 points, or 12.1 percent. Apple slipped after announcing its new lineup of iPhones. The Nasdaq composite increased 22 points, or 0.3 percent, to 6,454.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.

Wall Street has been eking out record highs for most of this year, recovering from periodic setbacks caused by turmoil in Washington, questions over US interest rate hikes and doubts about the Trump administration to push through its pro-business reforms, and lately, tensions over North Korea.

Chemicals company DowDuPont is up 1.9 percent Tuesday after it made changes to its breakup plans, and Apple is wobbling as investors wait for details on the next iPhone.

Banks were benefiting from higher bond yields, which allow them to charge higher interest rates on loans.

United States stocks closed at fresh record highs, with the S&P 500 inching up 0.1 percent and the Dow gaining 0.2 percent.

The Dow is up 360.39 points, or 1.7 percent.

The Nasdaq is up 100 points, or 1.6 percent.

Most large caps traded mixed, with market kingpin Samsung Electronics adding 0.89 percent and SK hynix, a major chipmaker, advancing 1.06 percent.

Micron Technology was up more than 1 percent after Goldman Sachs upgraded the stock to "buy" from "neutral".

The S&P 500 is up 259.54 points, or 11.6 percent.



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