SEOUL - On Wednesday, South Korean shares experienced a significant uplift of 2 percent, driven by a surge in technology and secondary battery stocks, coupled with positive trends on Wall Street. The Korea Composite Stock Price Index ascended by 52.73 points to close at 2,675.75. Trading volume was recorded at 319 million shares, valued at approximately 10.06 trillion won (US$7.34 billion).
According to Yonhap News Agency, the day's trading concluded with advances dominating declines, with 610 winners against 270 losers. Institutional and foreign investors were net buyers, contrasting with retail investors who sold off shares. The uplift in Seoul's market is attributed to ongoing expectations of U.S. Federal Reserve rate cuts and robust performances by artificial intelligence-related stocks. Prominent gains were seen in key companies such as Samsung Electronics and SK hynix, with significant increases of 4.11 percent and 5.15 percent, respectively. Conversely, financial sectors saw a downturn after previous gains, with notable decreases in shares of Kookmin Financial and Hana Financial.