Seoul Stock Exchange Rises 0.38% Encouraged by Financial and Chip Companies

By: News Team

Published on:

Seoul Stock Exchange Rises 0.38% Encouraged by Financial and Chip Companies

The main indicator of the Seoul Stock Exchange, the Kospi, rose 0.38% on Thursday, its second consecutive day in positive, driven by advances in financial and chip stocks.

The South Korean benchmark advanced 8.67 points to 2,264.65 integers, while the technology index Kosdaq It lost 3.75 points, or 0.55%, to 679.92.

The Kospi rose overnight, buoyed by gains in the chip and financial sectors, but slowed down during the afternoon.

Investors were in good spirits on the news that China could put the brakes on large investments in its semiconductor sector, so purchases were mainly focused on this sector.

Samsung Electronics, the benchmark in the South Korean market, rose 0.69%, while SK Hynix, the world’s second-largest memory chip maker, gained 0.49%.

The owner of the main national internet search engine, Naver (KS:035420), advanced 1.92%, and Kakao, the operator of South Korea’s most popular instant messaging application, also rose sharply, 3.59%.

In the biopharmaceutical sector, Samsung Biologics rose 1.46% and Hyundai Motor, South Korea’s largest automaker, lost 0.93%.

Leave a Comment