South Korean stocks began the week with a strong surge, opening over 1 percent higher on Monday. The market’s positive start mirrored gains seen on Wall Street in the previous session, fueled by investor interest in technology and automobile sectors.
Within the first 15 minutes of trading, the benchmark Korea Composite Stock Price Index (KOSPI) increased by 92.22 points, representing a 1.59 percent rise, to reach 5,900.75.
The KOSPI’s upward trajectory continued after it closed at a record high of 5,808.53 on Friday. This momentum is driven by optimism surrounding artificial intelligence and gains in major chipmakers and other prominent technology stocks.
Over in the United States on Friday, the Dow Jones Industrial Average rose by 0.47 percent, while the technology-focused Nasdaq Composite advanced by 0.9 percent.
In Seoul, technology and automotive stocks were the primary drivers of the market’s gains.
Market heavyweight Samsung Electronics experienced a significant jump of 3.31 percent, while chip manufacturing giant SK hynix climbed by 2.11 percent.
Leading automaker Hyundai Motor saw its stock price surge by 4.13 percent, and its affiliate Kia also experienced growth, rising by 1.4 percent.
Among the stocks experiencing declines, major defense company Hanwha Aerospace fell by 0.56 percent, and shipping leader HMM decreased by 1.51 percent.
