Seoul Shares Spike over 5 Pct to Approach 7,000 on Chip Rally; Won Sharply Up
Semiconductor gains and foreign buying lifted the benchmark 5.1% as SK hynix topped 1.4 million won per share, analysts said.
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The KOSPI has risen to the threshold of the 7,000 mark. Amid growing earnings expectations centered on semiconductors, foreign investor demand pushed the index up, setting a new all-time high. According to the Korea Exchange on the 4th, the KOSPI rose 5.12% (338%) from the previous trading day.
Seoul shares spike over 5 pct to approach 7,000 on chip rally; won sharply up
South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in U.S.-Iran peace talks.
On the 4th, the KOSPI surged by over 5%, bringing it within sight of the "KOSPI 7,000" mark. According to the Korea Exchange, the KOSPI closed at 6,936.99, up 5.12%. It has once again surpassed its all-time high. The KOSPI 7,000 is now just 63.01 points away, or about 1%. Expectations of a semiconductor supercycle are pushing the KOSPI higher than the risk of war in the Middle East.
[Digital Daily Reporter Kang Ki-hoon] The KOSPI surged more than 5% on the 4th, breaking through the 6,900 mark for the first time in history. On this day, the KOSPI closed at 6,936.99, up 338.12 points (5.12%) from the previous trading day. The KOSPI index started at 6,782.93, up 184.06 points (2.79%), and then expanded its gains. At one point during the session, it rose to 6,937.00, coming very close to the 7,000 mark. In the securities mark…
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