South Korean Stock Market Opens Sharply Higher as Investors Snap Up Chip Shares Following Prior Day's Plunge

Deep News07-09 08:31

The South Korean stock market opened significantly higher on Thursday, with investors aggressively buying into chip stocks following a steep decline in the previous trading session.

The benchmark Korea Composite Stock Price Index (KOSPI) opened up 243.11 points, or 3.3%, at 7,489.90.

Overnight, U.S. stock markets closed mixed: the Dow Jones Industrial Average fell 1.09%, while the tech-heavy Nasdaq Composite Index gained 0.2%.

Investors remain broadly concerned about renewed tensions between the U.S. and Iran, as well as uncertainty surrounding the next phase of the artificial intelligence (AI) trade.

Market bellwether Samsung Electronics rose 3.06%, and SK Hynix advanced 6.79%.

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