The South Korean stock market opened strongly on Friday, with significant gains driven by major technology heavyweights, mirroring positive movements observed on Wall Street overnight.
The benchmark Korea Composite Stock Price Index (KOSPI) demonstrated robust performance, initially opening 3.57 percent higher. By 9:15 a.m., the KOSPI had climbed an impressive 171.01 points, or 2.41 percent, reaching 7,467.91.
This positive momentum in Seoul followed a strong performance by US stocks overnight, which closed higher. Market sentiment was particularly boosted by a significant rebound in semiconductor shares and a noted easing of global oil prices.
On Wall Street, key indices saw upward trends: the Dow Jones Industrial Average advanced by 0.27 percent, the S&P 500 increased by 0.81 percent, and the tech-heavy Nasdaq Composite notably climbed 1.3 percent.
Back in Seoul, prominent market heavyweights largely continued their upward trajectory, contributing significantly to the overall market gains.
Leading the charge, market bellwether Samsung Electronics advanced a strong 2.16 percent. Its formidable chipmaking rival, SK hynix, however, experienced a slight dip of 0.23 percent after an initial higher opening.
Further boosting the sector, Samsung Electro-Mechanics, a key electronic components manufacturing affiliate of Samsung Electronics, saw a substantial gain of 3.95 percent.
