South Korean stocks close sharply higher on tech gains
KOSPI rises 3.21% as foreign and institutional investors buy chipmakers
Hızlı Bakış
- South Korean stocks ended sharply higher for the fourth straight session as investors bought major chipmakers like Samsung Electronics and SK hynix.
- The KOSPI rose 3.21 percent to close at 6,790.01, while the won gained ground.
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South Korean equities have experienced consecutive gains supported by overseas tech sector performance.
SEOUL, Aug. 13 (Yonhap) -- South Korean stocks ended sharply higher for the fourth straight session on Thursday as investors scooped up major chipmakers. The Korean won gained ground against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 210.97 points, or 3.21 percent, to close at 6,790.01, following 0.65 percent, 0.73 percent and 3.68 percent gains in the previous three sessions.
After opening 2.96 percent higher, the KOSPI further added gains as foreigners and institutions scooped up major chip heavyweights for four consecutive sessions.
Overnight, U.S. stocks tied to the artificial intelligence technology sector rose. The S&P 500 gained 0.26 percent, closing just shy of a record high, while the Nasdaq composite advanced 0.54 percent. In contrast, the Dow Jones Industrial Average edged down 0.04 percent.
In Seoul, large-cap stocks finished higher.
Semiconductor heavyweight Samsung Electronics shot up 4.89 percent to 268,000 won per share and its rival SK hynix gained 5.91 percent to 1.59 million won, both extending the winning streak for three straight sessions.
The Korean won was quoted at 1,419.4 won against the U.S. dollar at 3:30 p.m., up 3.7 won from the close of stock trading the day before.
Açık Sorular
- Will foreign buying momentum continue in upcoming sessions?
