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Seoul Stocks End Higher After Early Tech Selloff

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 ended higher on Tuesday, recouping early losses to close 45.78 points, or 0.68 percent, higher at 6,742.74. The benchmark Korea Composite Stock Price Index (KOSPI) had opened 2.4 percent lower, tracking overnight losses in U.S. technology shares. Investors remained cautious as they awaited major corporate earnings results this week, specifically those from U.S. chip giant Nvidia.

Retail investors and institutions provided support during the session, buying a net 1 trillion won and 1.17 trillion won, respectively. In contrast, foreign investors sold a net 3.82 trillion won. Tech and auto stocks led the eventual gains. Hyundai Motor climbed 1.69 percent and HD Hyundai Heavy Industries gained 1.98 percent. Samsung Electronics remained unchanged at 257,000 won, while SK hynix rose 0.42 percent to 1.68 million won.

Some sectors faced declines, with battery maker LG Energy Solution falling 3.45 percent and refiner SK Innovation shedding 3.92 percent. The Korean won fell against the U.S. dollar, quoted at 1,386.1 won as of 3:30 p.m.

Analysts noted that investors are weighing escalating geopolitical tensions in the Middle East against expectations for U.S. economic data. Additionally, Federal Reserve Gov. Kevin Warsh is expected to speak at the annual Jackson Hole gathering on Friday, which may offer clues regarding monetary policy and persistent inflation.

How each side framed it

Centre
Center outlets provided a chronological progression of the day, moving from reports of a sharp opening decline to the final higher close.
Centre-right
Center-right outlets mirrored the factual reporting of the center outlets, focusing on the recovery of the index and the influence of U.S. tech trends.

Sources

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