Global Market: South Korean Stocks Pare Gains as Investors Turn Cautious Ahead of Chuseok Break
5 Articles
5 Articles
The Economic Times
Times of IndiaGlobal Market: South Korean stocks pare gains as investors turn cautious ahead of Chuseok break
South Korean shares pared early gains on Wednesday as investors turned cautious ahead of the Chuseok holiday break. The KOSPI rose 0.16%, supported by chipmakers Samsung Electronics and SK Hynix after a US technology rally. However, foreign selling and weakness in automakers and other major stocks limited gains, while the won strengthened.
The KOSPI opened nearly 2% higher on the 23rd, the last trading day before the Chuseok holiday. The upward trend is attributed to the overnight strength of U.S. tech stocks and expectations of easing tensions in the Middle East. However, there is also a possibility that the market will take a breather, similar to the previous day, ahead of the holiday closure.
(Seoul = Yonhap News) Reporter Lee Min-young = Attention is focused on whether the KOSPI will continue its upward trend on the 23rd amid overnight strength in U.S. tech stocks and expectations of easing tensions in the Middle East.
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