South Korean equities experienced a strong opening on Thursday, driven by investors actively acquiring bargain-priced semiconductor stocks following a sharp decline in the preceding session.
The benchmark Korea Composite Stock Price Index (KOSPI) recorded a substantial gain, rising 285.92 points, or 3.95 percent, to reach 7,532.71 as of 9:15 a.m. local time.
Overnight trading saw mixed results on Wall Street. The Dow Jones Industrial Average concluded down by 1.09 percent, while the technology-focused Nasdaq composite posted a modest increase of 0.2 percent.
Globally, investor sentiment remains cautious amidst escalating tensions between the United States and Iran, alongside ongoing uncertainties surrounding the future trajectory of artificial intelligence (AI) trade.
Leading the market’s upward movement were technology stocks.
Market bellwether Samsung Electronics saw its shares climb by 4.5 percent, while chip manufacturing giant SK hynix surged remarkably by 8.62 percent.
Among other notable performers, leading wireless services provider SK Telecom advanced 4.76 percent, and Lotte Shopping registered a gain of 1.1 percent.
Conversely, top automaker Hyundai Motor declined 2.59 percent, and defense sector firm Hanwha Aerospace experienced a fall of 3.75 percent.
