South Korea's financial market: Stock market rises over 1%, chip manufacturing stocks follow the surge of American peers
The South Korean stock market rose more than 1% on Wednesday, led by chip manufacturing stocks, influenced by similar stocks in the United States. The KOSPI index increased by 35.42 points, closing at 2,573.02 points. Foreign investors net bought 91.791 billion Korean won in the KOSPI, and the Korean won slightly appreciated against the US dollar. Samsung Electronics and SK Hynix rose by 1.68% and 4.37%, respectively. The market is focused on US tariff policies and the upcoming inflation data
Reuters Seoul, March 12 - South Korea's stock market rose on Wednesday, led by chip stocks, following the gains of their U.S. counterparts, with the market focusing on U.S. tariffs and inflation data to be released later in the day.
At 01:36 GMT, the Korea Composite Stock Price Index (.KS11) rose by 35.42 points or 1.40%, to 2,573.02 points.
White House trade advisor Peter Navarro stated on Tuesday that the plan to impose a 50% tariff on Canadian steel and aluminum would not take effect on Wednesday.
Among heavyweight stocks, Samsung Electronics (005930.KS) rose by 1.68%, and SK Hynix (000660.KS) increased by 4.37%. Earlier, U.S. artificial intelligence company Nvidia (NVDA.O) rose by 1.7% on Tuesday.
Most other index heavyweight stocks also climbed, including those in batteries, biopharmaceuticals, e-commerce, and automotive sectors.
KOSPI (.KS11) market trading volume was 154,933,000.00 shares, with 589 out of 941 stocks traded rising.
Foreign investors net bought 91.791 billion won in KOSPI.
The Korean won against the U.S. dollar (KRW=KFTC) was reported at 1,453 on the domestic settlement platform; up 0.14% from the previous closing price of 1,455.
Three-year government bond March futures (KTBc1) rose by 0.01 points to 106.77.
The benchmark three-year government bond yield (KR3YT=RR) was 2.559%, down from the previous closing price of 2.561%. The benchmark 10-year government bond yield (KR10YT=RR) rose by 2.6 basis points to 2.769%.
(Note: The Korean won is commonly referred to as 韩圜 in Hong Kong and Taiwan.)
For quotes on South Korean spot government bonds, please click (0#KRBMK=)
For quotes on South Korean government bond futures main contract, please click (KTBc1)
