Seoul Stocks Rise Boosted by Tech Shares

SEOUL, Feb. 6 – South Korean stocks saw an upward trend late Thursday morning, driven primarily by strong performances from major technology shares.

The benchmark Korea Composite Stock Price Index, known as KOSPI, increased by 17.40 points, representing a rise of 0.69 percent, reaching a level of 2,526.67 as of 11:20 a.m.

The index opened on a positive note, buoyed by gains made overnight on Wall Street, and has successfully sustained this upward momentum throughout the morning.

Tech Companies Lead the Market

Leading the market's rise were the technology giants. Market leader Samsung Electronics advanced by 1.13 percent, while chip producer SK hynix saw a climb of 1.61 percent.

Mixed Results in Other Sectors

However, not all sectors fared well. The major electric vehicle battery manufacturer LG Energy Solution experienced a decline, dropping 1.59 percent.

In the automotive industry, results were mixed. The leading automaker, Hyundai Motor, saw a rise of 0.73 percent, in contrast to its sister company Kia, which fell by 0.2 percent.

The pharmaceutical sector showed positive trends, with major biotech firm Samsung Biologics increasing by 0.37 percent, and Celltrion rising by 0.95 percent.

The mobile messaging giant Kakao surged ahead with an impressive gain of 3.47 percent.

On the other hand, top portal site operator Naver saw a decline of 1.97 percent, while the leading steelmaker POSCO Holdings lost 0.83 percent.

The South Korean won traded at 1,446.4 won against the US dollar at 11:20 a.m., marking a decrease of 2.1 won from the previous day.

Seoul, Stocks, Tech