Seoul stocks sharply higher late Thur. morning after holiday

SEOUL– South Korean stocks jumped more than 2 percent late Thursday morning, tracking overnight gains on Wall Street that stemmed from robust earnings reports.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 55.05 points, or 2.07 percent, to trade at 2,718.39 points as of 11:20 a.m.

The KOSPI extended its gains after a three-day holiday, as the tech-heavy Nasdaq composite added 0.5 percent and the Dow Jones Industrial Average advanced 0.63 percent Wednesday.

Most large caps traded higher in Seoul.

KOSPI’s top cap Samsung Electronics rose 0.95 percent, and No. 2 chipmaker SK hynix added 4.67 percent.

Internet portal operator Naver moved up 3.87 percent, with LG Chem surging 6.89 percent.

Top automaker Hyundai Motor climbed 2.64 percent, and LG Energy Solution rose 4.67 percent.

The local currency was trading at 1,205.35 won against the U.S. dollar, up 0.15 won from the previous session’s close.

Source: Yonhap News Agency

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