Seoul Stocks Turn up Late Monday Morning on Bargain Hunting
6 Articles
6 Articles
On the 2nd, the KOSPI successfully rebounded after recovering from an early decline. Despite the fallout from the sharp drop in US semiconductor stocks, buying by pension funds and other corporations appears to be supporting the market's bottom. Prior to the market opening, concerns arose that a "Black Monday" could recur due to negative news from the US, but investor anxiety seems to have eased somewhat as the index turned upward during the ses…
(Seoul = Yonhap News) Reporter Lim Eun-jin = The KOSPI turned upward during trading on the 2nd and is moving in a slightly bullish range.
Seoul stocks turn up late Monday morning on bargain hunting
Seoul stocks reversed course to trade higher late Monday morning as investors went bargain hunting for tech heavyweights. After opening over 1 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) was up 93.16 points, or 1.63 percent, to 5,823.9 as of 11:20 a.m. On Friday, the index dipped over 3 percent amid persistent woes over the profitability of artificial intelligence (AI) investment. On Friday (U.S. time), the S&P 500 and…
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