Seoul Shares Rise Amid Positive Wall Street Influence

Seoul: South Korean stocks saw an uptick in late Tuesday morning trading, influenced by positive movements on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) recorded a modest increase, adding 5.30 points, or 0.20 percent, reaching 2,628.59 by 11:20 a.m. According to Yonhap News Agency, the rise in the KOSPI was a reflection of gains in the U.S. stock markets, where major indices finished at record highs. The Dow Jones Industrial Average rose by 0.47 percent to close at 43,065.22, surpassing the 43,000 mark for the first time. Similarly, the S and P 500 climbed to a new record, setting at 5,859.85. In Seoul, the performance of large cap stocks was mixed. Samsung Electronics, a significant player in the technology sector, saw its shares increase by 0.49 percent. Its competitor in the semiconductor industry, SK hynix, experienced a notable surge of 2.72 percent. Hyundai Motor, the top automaker, also posted gains, advancing 0.20 percent. However, Kia Motors, a smaller affiliate of Hyundai , experienced a decline, with shares dropping by 0.40 percent. Contrastingly, leading battery maker LG Energy Solution faced a significant drop, tumbling 3.20 percent. Samsung SDI, another major player in the battery production sector, also saw its shares decrease by 2.65 percent. The local currency, the won, was trading lower against the U.S. dollar, standing at 1,359.60, which is down 3.70 won from the previous session.