Seoul shares spike 3.5% on eased woes over Strait of Hormuz, AI
Market bellwether Samsung Electronics rose 2.5 percent to 246,000 won, and its chipmaking rival SK hynix climbed 5.77 percent to 1,668,000 won
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Summary
Market bellwether Samsung Electronics rose 2.5 percent to 246,000 won, and its chipmaking rival SK hynix climbed 5.77 percent to 1,668,000 won. The index rose 1.62 percent Tuesday after plunging 5.12 percent the previous day. Among decliners, leading refiner SK Innovation fell 1.89 percent to 109,200 won, and S-Oil declined 2.62 percent to 122,500 won.
Furthermore, Trade volume was moderate at 335.16 million shares worth 25.21 trillion won ($17.7 billion), with winners far outnumbering losers 672 to 197. Top carmaker Hyundai Motor rose 3.06 percent to 404,500 won, and national flag carrier Korean Air gained 3.07 percent to 26,900 won. Seoul shares spike 3.5% on eased woes over Strait of Hormuz, AI.
In addition, "On top of Hormuz reopening hopes, robust earnings from US tech firms helped ease concerns over heavy investment in the AI sector," Kang Jin-hyeok, an analyst at Shinhan Securities Co., said. Overnight, US stocks advanced as investors bet that a possible agreement to reopen the crucial shipping route could extend the recent decline in oil prices and ease inflationary pressures.
Cross-referenced from 2 sources.
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Market bellwether Samsung Electronics rose 2.5 percent to 246,000 won, and its chipmaking rival SK hynix climbed 5.77 percent to 1,668,000 won.
reliability low1/2 sourcesThe index rose 1.62 percent Tuesday after plunging 5.12 percent the previous day.
reliability low1/2 sourcesAmong decliners, leading refiner SK Innovation fell 1.89 percent to 109,200 won, and S-Oil declined 2.62 percent to 122,500 won.
reliability low1/2 sourcesTrade volume was moderate at 335.16 million shares worth 25.21 trillion won ($17.7 billion), with winners far outnumbering losers 672 to 197.
reliability low1/2 sourcesTop carmaker Hyundai Motor rose 3.06 percent to 404,500 won, and national flag carrier Korean Air gained 3.07 percent to 26,900 won.
reliability low1/2 sourcesSeoul shares spike 3.5% on eased woes over Strait of Hormuz, AI.
reliability low1/2 sources"On top of Hormuz reopening hopes, robust earnings from US tech firms helped ease concerns over heavy investment in the AI sector," Kang Jin-hyeok, an analyst at Shinhan Securities Co., said.
reliability low1/2 sourcesOvernight, US stocks advanced as investors bet that a possible agreement to reopen the crucial shipping route could extend the recent decline in oil prices and ease inflationary pressures.
reliability low1/2 sources
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