SEOUL — South Korean stocks saw a notable increase Monday morning, with the benchmark Korea Composite Stock Price Index (KOSPI) up by 0.76 percent, driven by foreign investment in large-cap shares.
According to Yonhap News Agency, by 11:20 a.m., the KOSPI had risen by 20.09 points, reaching 2,668.85. The uptick was led by significant gains in the technology sector, with chipmakers like Samsung Electronics and SK hynix witnessing rises of 0.96 percent and 3.2 percent, respectively.
Other major companies also experienced growth, with SK Telecom and KT seeing increases of 1.15 percent and 5.2 percent. Retail giants Shinsegae and Hyundai Department Store reported gains of 0.98 percent and 1.82 percent, contributing to the positive market sentiment.
However, the battery sector faced some challenges, with LG Energy Solution and Samsung SDI experiencing declines of 2.68 percent and 1.85 percent, respectively.
The South Korean won also saw a slight appreciation against the U.S. dollar, trading at 1,333.05 won, up by 2.35 won from the previous session's close.
SEOUL — The Seoul stock market saw a robust opening on Monday, buoyed by significant gains in the technology and automobile sectors. The Korea Composite Stock Price Index (KOSPI) experienced an uptick of 26.98 points, or 1.02 percent, reaching 2,675.74 within the first 15 minutes of trading.According to Yonhap News Agency, Samsung Electronics, a leading technology firm, saw its shares increase by 0.82 percent, while SK hynix, another major chipmaker, witnessed a slight rise of 0.07 percent. The automobile sector also showed strong performance, with Kia, the country's second-largest car manufacturer, recording a 1.73 percent increase in its shares. Hyundai Mobis, an auto parts affiliate of Kia, saw a more substantial jump of 3.25 percent. Additionally, SK Innovations, the top oil refiner, and Korean Zinc, a leading zinc smelter, experienced gains of 1.97 percent and 0.32 percent, respectively.
The South Korean won also strengthened against the U.S. dollar, trading at 1,332.05 won, up by 3.35 won from the previous session's close.