Global Market: South Korean Shares Rebound as Chipmakers Recover After Five-Day Losing Streak
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10 Articles
Global Market: South Korean shares rebound as chipmakers recover after five-day losing streak
South Koreas KOSPI rebounded 0.74% on Wednesday as investors bought semiconductor stocks after five consecutive sessions of losses. Samsung Electronics and SK Hynix advanced, supported by a recovery in US AI chipmakers. Despite positive market breadth, foreign investors remained net sellers, while the won strengthened slightly and bond yields mostly rose.
The KOSPI index recovered the 6,100 level in early trading on the 14th, rising 2%. This is interpreted as buying pressure from investors who believe the decline was excessive, as the index fell more than 5% the previous day. As of 9:12 AM on this day, the KOSPI index was trading at 6,163.58, up 2.13% (128.36 points) from the previous day. The KOSPI index rose 26.73 points (0.44%) from the previous day.
(Seoul = Yonhap News) Reporter Kim Yu-hyang = The KOSPI, which plummeted yesterday, is showing an upward trend of within 1% in early trading on the 14th.
Asian Shares Recover As Chip Stocks Stabilise Ahead Of US Inflation Data
Asian markets edged higher as Samsung Electronics and SK Hynix recovered some recent losses, while rising oil prices and expectations for US inflation data kept investors cautious about the outlook for interest rates and global equities.
After a strong sell-off, chipmakers are recovering. Samsung and SK Hynix rose more than two percent, pulling most of the Asian stock markets into the red.
South Korea's Kospi is turning upward after a shaky start to the trading week.
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