Seoul Stocks Trade Sharply Higher, Led by Tech Heavyweights
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Seoul stocks surged Friday, with the KOSPI index climbing over 200 points to surpass 9,200, driven by strong performance in chipmakers like Samsung Electronics and SK Hynix, following positive leads from Wall Street.
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Seoul stocks traded sharply higher, following gains on Wall Street overnight. The KOSPI index surpassed the historic 9,000 landmark the previous session.
SEOUL, June 19 (Yonhap) -- Seoul stocks traded sharply higher late Friday morning, buoyed by chips and other tech heavyweights, after topping the historic 9,000 landmark the previous session.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 200.67 points, or 2.21 percent, to 9,264.51, as of 11:20 a.m., after peaking above 9,300 at one point.
The index followed gains on Wall Street overnight, lead by major chipmakers, including Intel. The U.S. semiconductor company jumped after President Donald Trump said the firm had agreed to a deal with Apple to design and manufacture chips in the United States.
In Seoul, market top-cap Samsung Electronics rose 1.38 percent, while its industry rival SK hynix jumped 5.92 percent.
Top carmaker Hyundai Motor moved up 1.33 percent, battery maker LG Energy Solution climbed 1.88 percent, while nuclear power plant builder Doosan Enerbility retreated 2.41 percent.
The Korean won was quoted at 1,538.1 won against the U.S. dollar, as of 11:23 a.m., down 11 won from the previous session.
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KOSPI index to maintain upward momentum in the short term.
Wahrscheinlich · Innerhalb von Tagen
Offene Fragen
- Will the upward trend continue?
- What is the long-term impact of the Intel-Apple deal?
