the news now
This is a new development in a story we have covered before · earlier coverage

South Korean Stocks Surge on Semiconductor Rally

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.

South Korean shares opened sharply higher on Thursday, driven by gains in major semiconductor companies following an overnight rally in U.S. technology stocks. The benchmark Korea Composite Stock Price Index (KOSPI) opened 194.88 points, or 2.96 percent, higher at 6,773.92. By 11:20 a.m. the index had extended these gains to rise 275.96 points, or 4.19 percent, reaching 6,855.

Blue chip shares led the advance. Samsung Electronics rose between 5.19 percent and 5.48 percent, while SK hynix jumped between 7.55 percent and 7.71 percent. Other significant gains were seen in Samsung Electro-Mechanics, which surged up to 13.18 percent, and SK Square, which rose up to 10.16 percent.

The rally followed a positive performance in the U.S. artificial intelligence technology sector. The S&P 500 gained 0.26 percent, closing just shy of a record high, and the Nasdaq composite advanced 0.54 percent. In contrast, the Dow Jones Industrial Average edged down 0.04 percent. The Korean won was trading at approximately 1,414.6 to 1,415.1 won against the U.S. dollar during the morning session.

How each side framed it

Centre
Outlets with a center lean focused on the continuous progression of the gains from the opening bell through the late morning.
Centre-right
Outlets with a center-right lean emphasized the sharp opening of the market and the direct correlation to U.S. technology stock gains.

Sources

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