Seoul stocks open higher on chip gains
Seoul stocks opened higher Wednesday, tracking overnight gains in U.S. semiconductor shares, though elevated U.S. Treasury yields weighed on the investor sentiment. The benchmark Korea Composite Stock Price Index, or KOSPI, gained 80.46 points, or 1.17 percent, to 6,951.27 as of 9:15 a.m. Overnight, U.S. stocks ended slightly lower despite a decline in oil prices, as persistently high Treasury…
Seoul stocks kicked off the trading day on a positive note on Wednesday, mirroring overnight gains seen in U.S. semiconductor shares. However, the mood among investors was somewhat tempered by the rise in U.S. Treasury yields.
The KOSPI, or Korea Composite Stock Price Index, which serves as Korea's benchmark, climbed by 80.46 points, marking a 1.17% increase, bringing its value to 6,951.27 as of 9:15 a.m.
The U.S. stock market, despite a slight dip in oil prices overnight, closed marginally lower. This was largely attributed to the ongoing challenge of high Treasury yields, which continued to dampen investor sentiment.
Nonetheless, semiconductor shares managed to outperform the broader market trend. The Philadelphia Semiconductor Index saw a rise of 1.32%, which provided a positive signal for leading Korean chip manufacturers, Samsung Electronics and SK hynix.
Samsung Electronics saw a rise of 1.1%, while SK hynix's shares climbed by 2.32%. The parent company of SK hynix, SK Square, also saw an increase of 2.33%. Additionally, Samsung Electro-Mechanics, an electronics component subsidiary of Samsung Electronics, saw a rise of 1.51%.
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.
This story
This is one outlet's version. Read the fullest account.
- (LEAD) Seoul stocks open higher on chip gains en.yna.co.kr
- Seoul stocks open higher on chip gains koreatimes.co.kr
