Market Chatter: Seoul Shares Open Higher as Investors Go Bargain-Hunting; Samsung Adds 4%, SK Hynix Up 5%

MT Newswires Live10:32

South Korean stocks opened sharply higher on Monday as investors took to purchasing stocks at a bargain, owing to last week's technology-led selloff on profitability concerns over AI companies, Yonhap News reported the same day.

The Korea Composite Stock Price Index or Kospi rose by 212.31 points, or 4.2%, to hit 5,301.45, while the Kosdaq increased by 33.01 points, or 3.05%, to hit 1,113.78 as of 10:56 am, Korea time.

Shares of market bigwigs Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) rose more than 4% and nearly 5%, respectively, in recent trade. Shares of Hyundai Motor (KRX:005380) and Kia (KRX:000270) increased over 2% and 1%, respectively.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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