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BackSeoul shares open higher on tech gains despite high oil prices
Seoul shares open higher on tech gains despite high oil prices
NEWS
Yonhap News1 hour agoBusiness1 min readSouth Korea

Seoul shares open higher on tech gains despite high oil prices

seoul shareskospisamsung electronics

Quick Look

  • Seoul shares opened higher on Thursday, driven by gains in technology stocks after Samsung Electronics reported third-quarter operating profit of 107 trillion won, exceeding forecasts by 1.6%, despite inflation concerns from elevated oil prices.
  • The KOSPI rose 0.07% to 6,808.68 at the open, while overnight U.S. markets saw the Dow fall 0.66% and Nasdaq decline 0.22%.

AI-generated summary

Why It Matters

Seoul shares opened higher on Thursday, with technology stocks leading gains despite inflation worries from elevated oil prices.

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SEOUL, Oct. 8 (Yonhap) -- Seoul shares opened higher Thursday, led by gains in technology stocks despite inflation worries stoked by elevated oil prices.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.78 points, or 0.07 percent, to 6,808.68 at the opening bell.

Technology stocks advanced after Samsung Electronics posted an estimated operating profit of 107 trillion won (US$79.8 billion) in the third quarter, exceeding market forecasts by 1.6 percent.

Overnight, the Dow Jones Industrial Average fell 0.66 percent, while the tech-heavy Nasdaq Composite declined 0.22 percent.

What to Watch

AI outlook โ€” possibilities, not facts

  • Technology stocks in South Korea may see continued near-term gains if Samsung's strong performance signals broader sector strength

    Possible ยท Within days

Open Questions

  • How sustained will the technology stock rally be given ongoing inflation concerns?
  • What specific factors drove Samsung's profit beat beyond market expectations?

Related Topics

seoul shares
OrganizationsSamsung ElectronicsDow Jones Industrial AverageNasdaq CompositeKorea Composite Stock Price Index
PlacesSeoulSouth Korea
Topicskospisamsung electronicstechnology stocksoperating profitinflation worriesoil prices
This article was originally published by Yonhap News.

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