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Seoul Shares Rise on Tech Rally 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.

Seoul shares rose on Tuesday, led by gains in semiconductor stocks and revived hopes for artificial intelligence related earnings momentum. The benchmark Korea Composite Stock Price Index (KOSPI) opened 0.72 percent higher at 7,045.79 points and continued to climb throughout the morning. By 11:20 a.m. the index was trading up 1.82 percent at 7,122.93 points. This followed a previous session where the index jumped more than 4 percent.

Tech shares drove the gains, with Samsung Electronics rising up to 2.59 percent and SK hynix climbing as much as 3.98 percent. Other gains were seen in state run utility Korea Electric Power Co. and refiner SK Innovation. Conversely, Hyundai Motor and LG Energy Solution both saw declines. The Korean won rose against the U.S. dollar, trading at 1,337.85 won as of 11:20 a.m.

Market volatility persists as escalating tensions in the Middle East push up oil prices. Tehran stated that a deal with Oman to manage shipping through the Strait of Hormuz is imminent, though it warned that ships face risks of attack off the Omani coast. These higher energy prices have fueled inflation concerns, leading investors to await Friday's inflation report for clues regarding the U.S. Federal Reserve's future rate path. The U.S. stock market was closed on September 7 for the Labor Day federal holiday.

How each side framed it

Centre
The center lean outlets provided detailed chronological updates on the index's growth and specific trading volumes.
Centre-right
The center-right lean outlet focused on the opening gains and the broader economic context of AI hopes and inflation.

Sources

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