(LEAD) Seoul shares open sharply higher on chip rally
SEOUL, Aug. 13 (Yonhap) -- South Korean shares opened sharply higher Thursday, l...
SEOUL, Aug. 13 (Yonhap) -- South Korean shares surged on Thursday, propelled by strong performances in major chipmakers, mirroring gains in U.S. technology stocks from the previous night. The Korea Composite Stock Price Index (KOSPI) began the day with a 2.96 percent increase, rising by 290.02 points, or 4.41 percent, to reach 6,869.06 by 9:15 a.m. The index climbed 194.88 points, or 2.96 percent, to 6,773.92 at the same time.
Meanwhile, the S&P 500 rose 0.26 percent, falling short of a record high, and the Nasdaq Composite Index surged 0.54 percent. The Dow Jones Industrial Average, however, slipped by 0.04 percent. Most large-cap shares in Seoul experienced a rise. Samsung Electronics, the market bellwether, gained 5.19 percent, while its chipmaking partner SK hynix surged 7.71 percent.
SK Square, the parent firm of SK hynix, jumped 10.16 percent, and Samsung Electro-Mechanics, a subsidiary electronics component of Samsung Electronics, saw a notable 13.18 percent increase. As of 9:15 a.m., the Korean won was trading at 1,414.6 won per U.S. dollar, a 3.9 won rise from the previous day's closing.
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Also reported by 2 other outlets
- Seoul shares extend gains late Thursday morning on chip rally koreatimes.co.kr
- Seoul shares spike for 5th straight day on chip rally en.yna.co.kr
