Seoul stocks trim early gains late Tues. morning
SEOUL, Sept. 22 (Yonhap) -- South Korean stocks trimmed earlier gains late Tuesd...
South Korean stocks saw a slight pullback from their strong early gains on Tuesday morning. The benchmark Korea Composite Stock Price Index (KOSPI) had initially surged 2.2 percent, or 110.94 points, to reach 7,188.66 as of 11:20 a.m. This came after the index opened sharply higher, mirroring a record close for the tech-focused Nasdaq Composite due to renewed optimism surrounding artificial intelligence and falling global oil prices and bond yields.
However, the rally was not sustained, as investors started taking profits on major stocks. Major market players remained mostly in the black, with Samsung Electronics up 1.92 percent and chipmaker SK hynix climbing 2.41 percent. SK Square, parent company of SK hynix, added 2.93 percent, while Samsung Electro-Mechanics, an electronics component subsidiary of Samsung Electronics, jumped 5.88 percent. The Korean won also strengthened, trading at 1,360.8 won per U.S. dollar, up 13.7 won from the previous session's close.
Written by urgent.news from Yonhap News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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