Seoul shares sharply up for 4th day on chip rally
SEOUL, Aug. 13 (Yonhap) -- South Korean stocks ended sharply higher for the four...
South Korean stocks soared for a fourth consecutive day on Thursday, as investors flocked to major chipmakers. The Korean won strengthened against the US dollar. The KOSPI index rose 234.3 points, or 3.56 percent, to close at 6,813.34. This follows gains of 0.65 percent, 0.73 percent and 3.68 percent in the prior three sessions.
Opening 2.96 percent higher, the KOSPI added further gains as foreign and institutional investors bought major chip stocks for four straight days. Overnight, US stocks linked to artificial intelligence technology rose. The S&P 500 gained 0.26 percent, approaching a record high, while the Nasdaq composite climbed 0.54 percent. In contrast, the Dow Jones Industrial Average decreased by 0.04 percent.
Chip giants Samsung Electronics surged 4.89 percent to 268,000 won per share, while SK hynix surged 5.91 percent to 1.59 million won, extending a three-day winning streak. The Korean won closed at 1,419.4 won per US dollar, up 3.7 won from the previous day's close.
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- 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
