Seoul shares sharply up late Monday morning on strong chip gains
Korean stocks traded sharply higher late Monday morning as investors scooped up semiconductor shares on optimism on further artificial intelligence (AI)-related demand. Opening 3.34 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) was trading up 198.88 points, or 2.97 percent, to 6,886.09, as of 11:20 a.m. Wall Street closed lower Friday, but the PHLX semiconductor index…
The Korea Times reports that Korean stocks experienced a sharp increase late Monday morning, with the benchmark Korea Composite Stock Price Index (KOSPI) rising 2.97 percent to 6,886.09. This surge was driven by optimism surrounding further artificial intelligence (AI)-related demand, particularly in the semiconductor sector. Notably, chip giants Samsung Electronics and SK hynix saw significant gains, with Samsung Electronics up 3.91 percent and SK hynix rising 5.4 percent.
SK Square, the parent company of SK hynix, surged 5.67 percent, while Hanmi Semiconductor, a leading chip equipment firm, jumped 5.43 percent. Energy company Doosan Enerbility also contributed to the rally, climbing 5.93 percent. However, HD Hyundai Heavy Industries and pharma company Celltrion experienced declines of 0.11 percent and 0.96 percent, respectively. The Korean won strengthened against the U.S. dollar, trading at 1,344.15 won per dollar.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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