Seoul shares open sharply higher on chip rally
Korean shares opened sharply higher Thursday, led by gains in major chipmakers, tracking an overnight gains in U.S. technology stocks. After opening 2.96 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) traded up 290.02 points, or 4.41 percent, at 6,869.06 as of 9:15 a.m. The benchmark Korea Composite Stock Price Index (KOSPI) opened 194.88 points, or 2.96 percent, higher…
Seoul's stock market began the trading day significantly higher on Thursday, propelled by strong performances in major chipmakers, mirroring gains in U.S. technology equities from the previous evening. The Korea Composite Stock Price Index (KOSPI), the primary indicator, surged 4.41 percent, climbing 290.02 points to reach 6,869.06 as of 9:15 a.m. The KOSPI had earlier opened 2.96 percent higher at 6,773.92.
U.S. stocks tied to the artificial intelligence sector experienced robust growth, with the S&P 500 inching closer to a record high (up 0.26 percent) and the Nasdaq Composite Index advancing 0.54 percent. Conversely, the Dow Jones Industrial Average experienced a slight decline of 0.04 percent. Among Korean companies, Samsung Electronics led, surging 5.19 percent.
Its rival in the chip sector, SK hynix, exhibited exceptional strength, soaring 7.71 percent. SK Square, the parent company of SK hynix, surged even more dramatically, gaining 10.16 percent. Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, also performed well, increasing 13.18 percent. The Korean won traded at 1,414.6 won per U.S. dollar at 9:15 a.m.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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- Seoul shares open sharply higher on chip rally koreatimes.co.kr
