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Seoul Shares Open Higher Led by Tech Gains Amid Middle East Tensions

morning · · thread: Oil Prices Drop as US and Iran Pause Military Hostilities

2 sources · South Korea · 1 of them is linked to a state

Who reported this

  • Yonhap South Korea · Centre · State-affiliated · Cooperative; statutory national agency with state subsidy
  • The Korea Herald South Korea · Centre-right · Herald Corporation (Yeongpoong Group)

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.

The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.

Every source for this story reports from South Korea.

The benchmark Korea Composite Stock Price Index (KOSPI) opened 2 percent higher on Tuesday, driven by gains in major chipmakers. Despite the positive start, the index later trimmed those gains to trade 0.69 percent higher at 7,026.26 as of 11:20 a.m. due to profit taking. Samsung Electronics and SK hynix led the tech sector gains, while shipping firm HMM and refiner SK Innovation also saw increases. Conversely, Hyundai Motor and Hanwha Aerospace declined. The market movement occurred against a backdrop of overnight losses on Wall Street, where the Dow Jones Industrial Average fell 0.51 percent and the Nasdaq composite declined 0.32 percent. Investors expressed concern over elevated oil prices and inflation, as well as dimmed prospects for a deal with Iran following statements from U.S. President Donald Trump regarding the expiration of an agreement. In the currency market, the Korean won traded at 1,411.45 won against the U.S. dollar as of 11:20 a.m. Trading activity showed foreigners as net buyers, while retail investors and institutions were net sellers.

How each side framed it

Centre
These reports focused on the chronological progression of the market, highlighting both the initial surge and the subsequent profit taking.
Centre-right
This report emphasized the strength of the tech gains despite the prevailing Middle East concerns and Wall Street losses.

Sources

100% of the statements in this article were traced back to the source articles listed above.