South Korean stocks traded higher late Wednesday morning as big-cap tech shares gained ground. The benchmark Korea Composite Stock Price Index (KOSPI) had added 17.82 points, or 0.68 percent, to 2,639.32 as of 11:20 a.m. Overnight, major U.S. indexes gained ground as softer producer price data boosted bets the Federal Reserve will start cutting its rates soon. In Seoul, market bellwether Samsung Electronics advanced 1.58 percent, and its chipmaking rival SK hynix soared 3.08 percent, tracking an overnight tech gain on Wall Street. Leading battery maker LG Energy Solution surged 2.88 percent to follow U.S. electric vehicle maker Tesla's jump. Its smaller rivals, Samsung SDI and POSCO Future M, also climbed 1.9 percent and 2.93 percent, respectively. Steel giant POSCO Holdings rose 1.39 percent and top chemical producer LG Chem increased 2.43 percent. But auto shares were weak, with Hyundai Motor down 0.62 percent and Kia down 0.58 percent. The local currency was trading at 1,359.80 won against the U.S . dollar, up 10.6 won from the previous session's close. Source: Yonhap News Agency
Related Articles
FDI pledges to S. Korea down 10.4 pct in H1
Foreign direct investment (FDI) pledges to South Korea fell 10.4 percent on-year in the first six months of this year amid economic uncertainties, data showed Friday.
The country received US$15.34 billion in FDI commitments in the January-June perio…
Supervise children who kill “Auntie Buapan”, investigate history and behavior
Ministry of Justice, Department of Observance Supervised a group of children who killed “Auntie Bua Phan”. History was taken, data on behavior was collected. It was revealed that the Ministry of Justice recently changed the law from 10 year olds to 1…
Ex-MP Sira Jenjaka given suspended sentence of eight months for defamation
Former Palang Pracharath MP for Bangkok Sira Jenjaka was sentenced to eight months in prison and fined 40,000 baht today (Wednesday) by the Bangkok South Criminal Court, after he was found guilty of defaming Thai Liberal party leader Sereepisuth Temeey…