Seoul shares open higher on large cap gains

South Korean shares opened higher Tuesday, helped by large cap gains amid growing hopes for a U.S. rate cut. The benchmark Korea Composite Stock Price Index (KOSPI) added 12.33 points, or 0.46 percent, to 2,693.33 in the first 15 minutes of trading. The index has closed higher for two consecutive sessions, with a growing number of investors expecting the United States to start cutting interest rates as early as this month. The U.S. Federal Reserve is set to hold its rate-setting meeting on Sept. 17-18 (U.S. time). Market kingpin Samsung Electronics shed 0.27 percent, but top pharmaceutical firm Celltrion added 0.86 percent, while leading mobile communications service provider SK Telecom advanced 0.72 percent. Leading battery maker LG Energy Solution inched down 0.12 percent, following its 6.19 percent spike in the previous session, but its local rival Samsung SDS was up 0.39 percent. Top automaker Hyundai Motor dipped 0.81 percent, with its smaller affiliate Kia Motors slipping 0.28 percent. The local currency was trading at 1,338.10 won against the U.S. dollar, up 0.30 won from the previous sessi Source: Yonhap News Agency