South Korean Stocks Surge Led by Semiconductor Rally
3 sources across 2 countries · South Korea · Argentina · 1 of them is linked to a state
Who reported this
- Yonhap
- The Korea Herald
- Infobae
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.
The benchmark Korea Composite Stock Price Index (KOSPI) rose nearly 5 percent by midday Wednesday, driven by a strong rally in semiconductor stocks. The index opened 1.47 percent higher and reached 6,661.22 points by 12:15 p.m. according to the Korea Exchange. The surge was led by Samsung Electronics, which rose as much as 7.5 percent, and SK hynix, which grew over 8 percent. Other gains were seen in SK Square and Samsung Electro-Mechanics. The rise was significant because it occurred despite overnight losses on Wall Street, where the Dow Jones Industrial Average fell 0.34 percent, the S&P 500 declined 0.32 percent, and the Nasdaq composite shed 0.60 percent. Due to the sharp increase, the Korea Exchange activated a buy-side sidecar at 11:57 a.m. which suspended program trading for five minutes after the KOSPI 200 Futures index rose 5 percent or more for at least one minute. In the automotive sector, Hyundai Motor and Kia both saw increases of nearly 2 percent. The Korean won traded at 1,415.9 won against the U.S. dollar as of 11:20 a.m. Some reports attributed the volatility in U.S. markets to fading optimism over a potential U.S. Iran peace deal and comments from Iran's Supreme National Security Council regarding the Strait of Hormuz.
How each side framed it
- Centre
- These outlets focused on the geopolitical tension in the Middle East as the primary driver for U.S. losses and provided detailed chronological updates on the KOSPI's ascent.
- Centre-right
- These outlets emphasized the resilience of the South Korean tech sector against Wall Street losses and included specific details on automotive and financial sector gains.
Sources
- Centre-right Infobae: South Korean Kospi rises nearly 5% at midday driven by tech stocks
- Centre-right The Korea Herald: Seoul shares open higher despite US losses amid Middle East pessimism
- Centre Yonhap: (URGENT) Seoul shares open 1.47 pct higher despite U.S. losses
- Centre Yonhap: (LEAD) Seoul shares open higher despite U.S. losses amid Middle East pessimism
- Centre Yonhap: Seoul shares extend gains late Wed. morning on chip rally
- Centre Yonhap: Seoul shares open higher despite U.S. losses amid Middle East pessimism
- Centre Yonhap: KRX activates buy-side sidecar for KOSPI on sharp rise
100% of the statements in this article were traced back to the source articles listed above.