Seoul shares open higher Thursday, led by chip stocks
En resumen
- Seoul shares opened higher on Thursday, with investors buying bargain-priced chip stocks after a significant sell-off in the previous session.
- The KOSPI rose by 3.95 percent, driven by gains in major tech companies like Samsung Electronics and SK hynix.
Resumen generado por IA
Por qué importa
Seoul shares opened higher on Thursday, driven by investor confidence in bargain-priced chip stocks following a previous day's sharp decline. The benchmark KOSPI index saw a significant increase in early trading.
SEOUL, July 9 (Yonhap) -- Seoul shares opened higher Thursday as investors scooped up bargain-priced chip stocks following the previous session's steep sell-off.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 285.92 points, or 3.95 percent, to 7,532.71 as of 9:15 a.m.
Overnight, U.S. stocks ended mixed. The Dow Jones Industrial Average fell 1.09 percent, while the tech-heavy Nasdaq composite rose 0.2 percent.
Investors, overall, remain concerned about renewed tensions between the United States and Iran, as well as uncertainty over the next phase of artificial intelligence (AI) trade.
Tech stocks were lead gainers.
Market bellwether Samsung Electronics jumped 4.5 percent, while chip giant SK hynix surged 8.62 percent.
Leading wireless services provider SK Telecom climbed 4.76 percent, and Lotte Shopping gained 1.1 percent.
Among decliners, top carmaker Hyundai Motor fell 2.59 percent, and defense firm Hanwha Aerospace declined 3.75 percent.
The Korean won was trading at 1,499.35 won against the U.S. dollar as of 9:15 a.m., up 3.05 won from the previous session.
Preguntas abiertas
- Will the positive momentum continue?
- How will US-Iran tensions affect markets further?
