South Korea Stock Market Hits 3-Year Peak
(MENAFN) South Korea’s benchmark stock market index experienced a sharp upswing, reaching its highest point in over three years, largely fueled by robust performances in technology and automobile sectors.
According to a news agency, the rally was further supported by sustained foreign investor involvement.
The Korea Composite Stock Price Index (KOSPI) advanced by 35.19 points, or 1.23 percent, ending the day at 2,907.04.
This marks its loftiest close since January 14, 2022, when it touched 2,921.92.
Market activity was vigorous, with approximately 383.5 million shares changing hands, totaling a value of 12.3 trillion won, which is roughly equivalent to USD9 billion.
The number of rising stocks significantly surpassed declining ones, with 600 gainers compared to 281 losers.
Foreign investors continued their purchasing trend for the sixth day in a row, which bolstered overall market confidence.
In the capital, Samsung Electronics rose by 1.18 percent to 59,900 won, while semiconductor manufacturer SK Hynix climbed 4.12 percent to settle at 240,000 won.
In the automotive industry, Hyundai Motor saw a 2.03 percent increase, reaching 201,000 won, and Kia advanced by 2.54 percent to 96,900 won.
Auto parts producer Hyundai Mobis also made notable gains, rising 4.91 percent to finish at 288,500 won.
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