Seoul shares extend gains late Wed. morning on chip rally
SEOUL, Aug. 12 (Yonhap) -- South Korean stocks extended gains Wednesday morning,...
South Korean stocks surged for the third consecutive day on Wednesday, driven by a rally in major chipmakers. The Korea Composite Stock Price Index (KOSPI) climbed 233.51 points, or 3.68 percent, to reach 6,579.04, after gaining 0.65 percent and 0.73 percent in the previous two sessions. Investors flocked to chip heavyweights, buying a net 2.83 trillion won worth of shares and 527.7 billion won in foreign stocks, while retail investors sold a net 3.19 trillion won in shares.
Samsung Electronics and SK hynix, both semiconductor giants, saw significant gains, with Samsung Electronics surging 6.68 percent to 255,000 won per share and SK hynix rising 5.54 percent to 1.5 million won. Other companies in the electronics and automotive sectors also experienced gains, including SK Square, Hyundai Motor, and LG Energy Solution. The Korean won strengthened against the U.S. dollar, closing at 1,415.7 won.
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