South Korea’s KOSPI rises 1.17% on chipmaker shares — Korea Herald

In Seoul, South Korea, the benchmark KOSPI stock index rose by 80.46 points, or 1.17%, to 6,951.27 points at 9:15 a.m. local time at the start of trading on Wednesday. The increase came amid higher quotes for semiconductor-sector companies, Korea Herald reports.

US market performance

US stock indices ended the previous trading session with slight declines despite falling oil prices. Investor sentiment was affected by high US Treasury yields. The S&P 500 fell by 0.17%, the Dow Jones Industrial Average by 0.26%, and the Nasdaq Composite by 0.09%.

At the same time, the Philadelphia Semiconductor Index rose by 1.32%, providing a positive signal for major South Korean chipmakers.

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Samsung and SK hynix shares rise

Samsung Electronics shares gained 1.1% at the start of the session, while SK hynix shares rose by 2.32%. Shares of SK Square, the parent company of SK hynix, increased by 2.33%. Samsung Electro-Mechanics, an electronic components manufacturer, saw its shares rise by 1.51%.

The South Korean won traded at 1,351 won per US dollar, 3 won higher than at the close of the previous trading session.