Seoul stocks trim early gains late Tuesday morning
Summary
Seoul stocks trimmed earlier gains late Tuesday morning after opening 2.2 percent higher. The benchmark KOSPI rose 110.94 points, or 1.58 percent, to 7,188.66 at 11:20 a.m. The index later pared gains as individual investors took profits on major stocks. Samsung Electronics, SK hynix, SK Square, and Samsung Electro-Mechanics were all trading higher, while the won strengthened to 1,360.8 per dollar.
Key Facts
- The KOSPI opened 2.2 percent higher before trimming gains late Tuesday morning.
- At 11:20 a.m., the benchmark index was up 110.94 points, or 1.58 percent, at 7,188.66.
- Samsung Electronics rose 1.92 percent, SK hynix gained 2.41 percent, SK Square advanced 2.93 percent, and Samsung Electro-Mechanics jumped 5.88 percent.
- The Korean won traded at 1,360.8 won against the U.S. dollar at 11:20 a.m., up 13.7 won from the previous session's close.
The benchmark KOSPI is displayed at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
South Korean stocks trimmed earlier gains late Tuesday morning, after a strong start.
After opening 2.2 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 110.94 points, or 1.58 percent, to 7,188.66 as of 11:20 a.m.
The KOSPI opened sharply higher, tracking a record close for the tech-heavy Nasdaq Composite amid renewed optimism over artificial intelligence (AI) and declines in global oil prices and bond yields.
The index later pared some of its gains as individual investors took profits on major stocks.
Market heavyweights were trading mostly higher.
Top market cap Samsung Electronics rose 1.92 percent, and chip giant SK hynix gained 2.41 percent.
SK Square, the parent company of SK hynix, advanced 2.93 percent, while Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, jumped 5.88 percent.
The Korean won was trading at 1,360.8 won against the U.S. dollar as of 11:20 a.m., up 13.7 won from the previous session's close.
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