KOSPI reclaims 7,000 as chip gains offset oil price worries
The benchmark KOSPI reclaimed the 7,000 mark Wednesday, with chip stocks leading the rally despite lingering concerns over escalating tensions in the Middle East and rising oil prices. It marked the first close above 7,000 since July 23. The KOSPI closed at 7,051.64, up 1.4 percent from the previous session. The index opened 18.35 points, or 0.26 percent, higher at 6,972.87 and extended its gains…
The KOSPI index reclaimed the 7,000 milestone on Wednesday, driven by gains in chip stocks, despite concerns over Middle East tensions and rising oil prices. The index closed at 7,051.64, marking its first close above 7,000 since July 23. Institutional investors were net buyers, purchasing 942 billion won worth of shares, while retail and foreign investors were net sellers, offloading 2.288 trillion won and 435.1 billion won in shares, respectively.
Despite a weaker performance on Wall Street, the KOSPI's advance was bolstered by the Philadelphia Semiconductor Index, which rose more than 1 percent.
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- KOSPI reclaims 7,000 as chip gains offset oil price worries koreatimes.co.kr
