Seoul stocks open higher on chip gains
Seoul stocks opened higher Monday, led by gains in tech heavyweights, though elevated oil prices and lingering tensions in the Middle East kept investors cautious. The benchmark Korea Composite Stock Price Index (KOSPI) was up 64.09 points, or 0.93 percent, to 6,958.32 as of 9:15 a.m. Overnight, stocks on Wall Street closed higher as investor sentiment improved on falling oil prices and easing…
Seoul's stock market opened on a high note on Monday, propelled by gains in the technology sector. The Korea Composite Stock Price Index (KOSPI), a key benchmark, rose 64.09 points, or 0.93 percent, to reach 6,958.32 by 9:15 a.m. Despite this positive start, caution lingered among investors due to the impact of high oil prices and ongoing tensions in the Middle East.
Across the Atlantic, Wall Street experienced a boost in investor sentiment as oil prices declined and geopolitical pressures eased. U.S. semiconductor shares saw a significant rally, providing a positive signal for major Korean chip manufacturers. The Philadelphia Semiconductor Index surged 2.78 percent, while the tech-focused Nasdaq gained 0.39 percent and the S&P 500 edged up by 0.17 percent.
While the broader market showed resilience, individual stocks performed differently. Samsung Electronics, a top market cap company, experienced a notable 3.26 percent increase, while chip giant SK hynix climbed 0.22 percent. However, leading automaker Hyundai Motor saw a decline of 0.96 percent, signaling a mixed performance among market heavyweights.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Seoul stocks up 1.5 pct late Mon. morning as chipmakers advance en.yna.co.kr
- Seoul stocks open higher on chip gains koreatimes.co.kr
