Seoul shares open sharply higher on US tech gains

Seoul's stock market opened sharply higher on Thursday, fueled by gains in U.S. technology stocks. The Korea Composite Stock Price Index (KOSPI), a key benchmark, surged 4.19 percent to reach 6,855 points by 11:20 a.m. local time. This marked a 2.96 percent increase from the market's opening. The rally was primarily driven by semiconductor shares, reflecting the broader gains in the U.S. artificial intelligence technology sector.

Overnight, major U.S. indices showed varied performances: the S&P 500 edged close to a record high with a 0.26 percent gain, while the Nasdaq composite rose 0.54 percent. In contrast, the Dow Jones Industrial Average saw a slight dip of 0.04 percent. Among Korean blue-chip stocks, Samsung Electronics, a market bellwether, led the advance with a 5.48 percent rise.

Its chipmaking counterpart, SK hynix, also performed strongly, surging 7.55 percent. SK Square, the parent company of SK hynix, experienced an even more robust jump of 8.98 percent. The Korean won strengthened against the U.S. dollar, trading at 1,415.1 won per dollar by 11:20 a.m., up 3.4 won from the previous day's close.