Samsung fell 0.45% but SK hynix rose 0.26%; Hyundai Motor gained 2.73% amid strong June export data
Seoul stocks open higher on chip rally, exports top $100B
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Summary
Chip giant Samsung Electronics fell 0.45 percent, while its industry rival SK hynix added 0.26 percent. The country's exports topped $100 billion for the first time in June, with exports of semiconductors growing nearly threefold on-year, to surpass $40 billion, according to the industry ministry. Top car maker Hyundai Motor advanced 2.73 percent, ship builder HD Heavy Industries moved up 4.39 percent, and defense giant Hanwha Aerospace climbed 5.13 percent.
Furthermore, June's export results are likely to provide varying degrees of momentum in the stock prices of chip-related sectors, according to Han Ji-young, an analyst from Kiwoom Securities. Investors are also keeping an eye on the rebalancing of the National Pension Service (NPS)'s stock portfolio, which is scheduled to start on Wednesday. The two sides are poised to hold fresh talks in Qatar this week, following a weekend of hostilities in the Middle East.
In addition, "Though risks related to the Middle East war and inflation has yet to disappear, the market has already digested some of the concerns through multiple corrections," the analyst said.
Cross-referenced from 2 sources.
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Chip giant Samsung Electronics fell 0.45 percent, while its industry rival SK hynix added 0.26 percent.
reliability moderate2/2 sourcesThe country's exports topped $100 billion for the first time in June, with exports of semiconductors growing nearly threefold on-year, to surpass $40 billion, according to the industry ministry.
reliability moderate2/2 sourcesTop car maker Hyundai Motor advanced 2.73 percent, ship builder HD Heavy Industries moved up 4.39 percent, and defense giant Hanwha Aerospace climbed 5.13 percent.
reliability moderate2/2 sourcesJune's export results are likely to provide varying degrees of momentum in the stock prices of chip-related sectors, according to Han Ji-young, an analyst from Kiwoom Securities.
reliability moderate2/2 sourcesInvestors are also keeping an eye on the rebalancing of the National Pension Service (NPS)'s stock portfolio, which is scheduled to start on Wednesday.
reliability moderate2/2 sourcesThe two sides are poised to hold fresh talks in Qatar this week, following a weekend of hostilities in the Middle East.
reliability moderate2/2 sources"Though risks related to the Middle East war and inflation has yet to disappear, the market has already digested some of the concerns through multiple corrections," the analyst said.
reliability moderate2/2 sources
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