Seoul stocks tad higher late Friday morning on chip gains
Seoul shares traded slightly higher late Friday morning as gains in major chipmakers on hopes for shareholder returns offset lingering concerns over renewed increases in U.S. Treasury yields. After opening 1.35 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) recovered its earlier losses, rising 42.61 points, or 0.61 percent, to 6,894.69 as of 11:20 a.m. U.S. Treasury yields…
Seoul's stocks experienced a slight recovery late Friday morning, buoyed by gains in major chipmakers amid hopes for shareholder returns. The benchmark Korea Composite Stock Price Index (KOSPI) rebounded from a 1.35 percent opening decline, climbing 0.61 percent to 6,894.69 by 11:20 a.m. local time. This turnaround came as U.S. Treasury yields continued their upward trajectory, reversing much of the previous day's decline following the U.S. Treasury's announcement of an expanded bond buyback plan.
The positive momentum was driven by major chipmakers, with Samsung Electronics and SK hynix both posting gains of 3.04 percent and 3.61 percent, respectively, as investors anticipated potential shareholder return packages.
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- Seoul stocks tad higher late Fri. morning on chip gains en.yna.co.kr
- Seoul stocks tad higher late Friday morning on chip gains koreatimes.co.kr
