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Seoul, South Korea – South Korean stocks opened substantially higher on Tuesday, propelled by strong gains in the technology sector, continuing a four-day rally and pushing the market toward a new record high.
Key Market Indicators
The benchmark Korea Composite Stock Price Index (KOSPI) rose 57.28 points,representing a 1.5 percent increase,reaching 3,871.97 within the first 15 minutes of trading. this positive momentum follows a strong performance in US markets on Monday.
According to data from Monday’s trading session,the S&P 500 increased by 1.2 percent, the Nasdaq Composite climbed 1.5 percent, and the Dow Jones Industrial Average added 507 points.
Leading Stocks Drive Gains
Several large-cap stocks led the upward trend in Seoul.
- Samsung Electronics: Increased by 1.53 percent.
- SK hynix: Gained 2.99 percent, extending it’s five-day rally.
- Hanwha Aerospace: Rose by 1.89 percent.
- LG Energy Solution: Inched up 0.46 percent.
Currency Exchange Rate
As of 9:15 a.m. KST, the South Korean won was trading at 1,420.3 against the US dollar, a decrease of 1.1 won from the previous session’s closing rate. Source: Yonhap
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