South Korean Stocks Rise on Tech Gains Amid Middle East Tensions
2 sources · South Korea · 1 of them is linked to a state
Who reported this
- Yonhap
- The Korea Herald
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.
South Korean stocks rose for a second consecutive session on Tuesday, with the benchmark Korea Composite Stock Price Index closing at 6,835.80, an increase of 0.23 percent. The gains were driven by tech shares and strong chip demand, which helped the index erase early losses. Samsung Electronics rose 0.38 percent and SK hynix advanced 1.14 percent. Additionally, oil refineries saw gains due to rising crude oil prices, with SK Innovation jumping 7.81 percent.
Market performance occurred against a backdrop of renewed tensions in the Middle East following airstrike exchanges between the United States and Iran. These events, coupled with threats of further strikes from U.S. President Donald Trump, raised global oil prices and sparked inflation concerns. The South Korean won weakened slightly against the U.S. dollar, closing at 1,370.4 won, down 1.8 won from the previous session.
Investor sentiment was further influenced by a hawkish speech from Federal Reserve Chair Kevin Warsh at the Jackson Hole Symposium, which raised fears of a potential rate hike. Foreign investors were net sellers of local stocks, offloading 491.9 billion won. While center leaning coverage focused primarily on the currency's weakness and the geopolitical triggers, center right leaning coverage emphasized the resilience of the stock market and the specific corporate gains that offset external uncertainties.
How each side framed it
- Centre
- Focused on the weakening of the won and the geopolitical instability in the Middle East.
- Centre-right
- Highlighted the growth of the stock market and the strength of the tech sector despite external pressures.
Sources
93% of the statements in this article were traced back to the source articles listed above.