Seoul shares sharply up late Mon. morning on strong chip gains
SEOUL, Sept. 7 (Yonhap) -- South Korean stocks traded sharply higher late Monday...
South Korean stocks surged late Monday morning, with investors bolstering semiconductor shares amid optimism for escalating demand related to artificial intelligence (AI). The benchmark Korea Composite Stock Price Index (KOSPI) opened 3.34 percent higher, trading at 6,886.09 points, a 2.97 percent increase, at 11:20 a.m. Wall Street, however, closed lower on Friday but the PHLX semiconductor index climbed 3.38 percent following the unveiling of OpenAI's latest GPT-6 Astra.
Tech shares in Seoul performed strongly on the day. Samsung Electronics climbed 3.91 percent while its rival SK hynix jumped 5.4 percent. SK Square, the parent company of SK hynix, skyrocketed 5.67 percent and Hanmi Semiconductor, a prominent chip equipment firm, rose 5.43 percent. Energy firm Doosan Enerbility saw a 5.93 percent surge and entertainment giant CJ ENM increased 3.48 percent.
Notably, leading shipbuilder HD Hyundai Heavy Industries slipped 0.11 percent, while major pharma Celltrion dropped 0.96 percent. By 11:20 a.m., the Korean won was valued at 1,344.15 won against the U.S. dollar, marking a 5.65 won increase from the previous session's closing rate.
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- Seoul shares sharply up late Monday morning on strong chip gains koreatimes.co.kr
