Breaking
ITAccountants, the final vote on professional reform is in the Senate todayTRBloody execution! They were caught under the bushes in the woods!DEBudget 2027: EU Parliament and member states reach budget compromiseITStock market: Asia on the rise, the technology sector does well, Tokyo +1.3%ITLewis Hamilton visits the Rafah crossingCNChina-Africa Innovation Cooperation and Development Forum opens in Wuhan and releases multiple resultsTRFake advertisements, illegal betting and usury… MASAK deciphered the report: 22 billion worth of black money traffic was stoppedCNThe rise of “China Buy”: Overseas consumers shop for good Chinese goods on “Double Eleven”TRHTS recording that attracted attention during the school attack in Kahramanmaraş: İsa Aras Mersinli's phone remained connected to the internet for 38 minutesTRThose moments are on camera... Food surprise for the motherITAccountants, the final vote on professional reform is in the Senate todayTRBloody execution! They were caught under the bushes in the woods!DEBudget 2027: EU Parliament and member states reach budget compromiseITStock market: Asia on the rise, the technology sector does well, Tokyo +1.3%ITLewis Hamilton visits the Rafah crossingCNChina-Africa Innovation Cooperation and Development Forum opens in Wuhan and releases multiple resultsTRFake advertisements, illegal betting and usury… MASAK deciphered the report: 22 billion worth of black money traffic was stoppedCNThe rise of “China Buy”: Overseas consumers shop for good Chinese goods on “Double Eleven”TRHTS recording that attracted attention during the school attack in Kahramanmaraş: İsa Aras Mersinli's phone remained connected to the internet for 38 minutesTRThose moments are on camera... Food surprise for the mother
Newsgather
All StoriesWorldSportsFinanceTechScienceHealthCultureClimatePoliticsSpace
BackSeoul shares rise for 2nd day on tech rally amid rate hike woes
Seoul shares rise for 2nd day on tech rally amid rate hike woes
NEWS
Yonhap News1 hour agoBusiness1 min readSouth Korea

Seoul shares rise for 2nd day on tech rally amid rate hike woes

KOSPI closes up 2.6 percent as won strengthens against dollar

seoul shareskospitechnology stocks

Quick Look

  • Seoul shares ended sharply higher for a second straight session, with the KOSPI closing up 136.23 points, or 2.6 percent, at 5,375.36, buoyed by technology stocks amid concerns over hotter-than-expected U.S. inflation and potential aggressive Federal Reserve tightening.
  • The Korean won traded higher against the U.S. dollar.

AI-generated summary

Why It Matters

The KOSPI had advanced 4.39 percent on Tuesday, buoyed by a rally in U.S. technology stocks and falling oil prices. U.S. consumer prices rose 0.3 percent in October from a month earlier, exceeding market expectations.

Font size

Seoul shares ended sharply higher for a second straight session Wednesday, buoyed by a rally in technology stocks amid concerns that hotter-than-expected U.S. inflation could prod the Federal Reserve to pursue an aggressive tightening mode.

The Korean won was trading higher against the U.S. dollar.

After opening 0.56 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) closed up 136.23 points, or 2.6 percent, at 5,375.36 after rising as high as 5,377.99.

On Tuesday, the index advanced 4.39 percent, buoyed by a rally in U.S. technology stocks and falling oil prices.

Local stocks bucked overnight losses on Wall Street, where the Dow Jones Industrial Average fell 0.3 percent and the tech-heavy Nasdaq composite declined 0.74 percent.

U.S. consumer prices rose 0.3 percent in October from a month earlier, exceeding market expectations and fueling concerns that the Fed could pursue a more aggressive monetary tightening policy to contain inflation.

Open Questions

  • Which specific technology stocks drove the rally?
  • What was the trading volume for the session?
  • How did individual sectors besides technology perform?

Related Topics

seoul shares
OrganizationsFederal ReserveDow Jones Industrial AverageNasdaq composite
PlacesSeoulSouth KoreaUnited States
Topicskospitechnology stockskorean wonus inflationfederal reserve
This article was originally published by Yonhap News.

Related Stories

E-Mart and Lotte Mart fill the empty space at Homeplus... 3rd quarter performance ‘soaring’
Business·

E-Mart and Lotte Mart fill the empty space at Homeplus... 3rd quarter performance ‘soaring’

Amid Homeplus' management difficulties, E-Mart and Lotte Mart improved their performance in the third quarter. E-Mart discount store operating profit increased 63.6% from the previous year to KRW 90.8 billion, and Lotte Mart's operating profit increased 87.5% to KRW 21.6 billion. Although the effect of easing competition has been reflected, it is unclear whether growth will continue in the fourth quarter.

연합뉴스
3 min read
“Let’s match the government bond bidding rate”... 15 PD companies fined up to 1.6 trillion won (comprehensive)
BREAKING·

“Let’s match the government bond bidding rate”... 15 PD companies fined up to 1.6 trillion won (comprehensive)

The Fair Trade Commission imposed a fine of KRW 1.626575 trillion on 15 professional dealers who agreed on bidding rates and volumes and exchanged information over a period of 3 years and 6 months in the treasury bond bidding. This is the largest amount ever for a single case, and seven companies were reported to the Serious Crime Investigation Office.

연합뉴스
4 min read
More on this topicseoul shares