South Korean Shares End Nearly 2% Higher on Record Chip Exports
Chipmakers led gains after exports jumped 83.5% to a record $120.9 billion, beating forecasts and signaling strong AI-driven demand.
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6 Articles
Channel News Asia
South Korean shares end nearly 2% higher on record chip exports
SEOUL, Oct 1 : Round-up of South Korean financial markets:** South Korean shares recouped early losses to end nearly 2 per cent higher on Thursday, led by gains in chipmakers after domestic trade data smashed forecasts to hit a fresh record. ** The benchmark KOSPI closed 133.31 points, or 1.95 per cent
The KOSPI, which opened lower on the 1st, recovered all of its early losses and widened its gains to climb to the 6,880 level. Strong earnings from Micron Technology overnight and a new record for domestic semiconductor exports appear to be belatedly boosting investor sentiment. The KOSDAQ is aiming to re-enter the 880 mark, continuing its strength centered on the semiconductor materials, components, and equipment (Sobujang) sector. The KOSPI in…
(Seoul = Yonhap News) Reporter Kim Yu-ah = The KOSPI, which started lower on the 1st, is fluctuating in a flat range after recovering some of its losses.
Seoul stocks rise nearly 2% to end 3-day losing streak on chip gains
South Korean shares rose nearly 2 percent on Thursday, snapping a three-session losing streak, as institutional investors scooped up major chip shares. The Korean won strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 133.31 points, or 1.95 percent, to close at 6,917.35. The index opened lower as investors digested a series of negative factors, including persistent pressure from elevated U.S. Tre…
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