Seoul: South Korean stocks rose markedly higher late Monday morning, led by Samsung Electronics and other tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) gained 36.43 points, or 1.42 percent, reaching 2,602.79 as of 11:20 a.m. The index opened higher and extended its gains further, bolstered by solid buying from foreign and institutional investors.
According to Yonhap News Agency, U.S. shares jumped on Friday as investors took the opportunity to purchase recently undervalued tech blue chips, dismissing concerns about an economic slowdown and a global trade war. In Seoul, most top-cap shares saw an upward trend, with market heavyweight Samsung Electronics soaring by 4.75 percent. Chip rival SK hynix advanced 1.47 percent ahead of the GPU Technology Conference 2025, an annual event hosted by Nvidia focusing on artificial intelligence, robotics, and other advanced technologies.
While leading battery maker LG Energy Solution remained unchanged, the No. 1 steelmaker POSCO Holdings experienced a rise of 0.66 percent. Bio shares also saw an uptick, with major bio firm Samsung Biologics increasing by 0.29 percent, and Celltrion gaining 0.75 percent. Top portal operator Naver climbed 0.48 percent, and leading defense equipment manufacturer Hanwha Aerospace saw a significant increase of 6.67 percent.
However, carmakers experienced a decline. The top automaker Hyundai Motor lost 0.35 percent, and its sister affiliate Kia decreased slightly by 0.2 percent. On the currency front, the local currency was trading at 1,447.85 won against the U.S. dollar at 11:20 a.m., up 5.95 won from the previous session.