South Korean shares start 2023 on a high as EV stocks jump

File pic: A currency trader watches computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between US dollar and South Korean won at a foreign exchange dealing room in Seoul- AP

SEOUL: South Korean shares began the first session of 2023 on a positive note, buoyed by automakers and battery manufacturers on improved outlook for electric-vehicle (EV) sales in the United States. The won weakened, while the benchmark bond yield rose.

The benchmark KOSPI was up 3.19 points, or 0.18%, to 2,240.33 by 0224 GMT on Monday, after rising as much as 1.05% in early trade.