![[Market View] ‘Samsung-Hynix Rescue Team’ Overcomes U.S. Tightening Fears as KOSPI Rebounds](https://www.chosun.com/resizer/v2/GI4DCNLFMNRDCZRUME2GIODBMU.jpg?auth=27344fb2ea5c36518fd7633d8395cd1f88bff7e8bf5cbd5b9395fe45b4e37b54&height=3057&smart=true&width=4279)
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[Market View] ‘Samsung-Hynix Rescue Team’ Overcomes U.S. Tightening Fears as KOSPI Rebounds
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- South Korea’s KOSPI index closed up 31.14 points, or 0.46%, at 6,820.02 after opening down 2.58%.
- Samsung Electronics and SK Hynix share buybacks appeared to support investor sentiment despite concerns about higher U.S. interest rates.
The KOSPI staged a sharp turnaround on Aug. 31, opening 175.30 points, or 2.58%, lower at 6,613.58 before ending the session in positive territory.
The index closed at 6,820.02, up 31.14 points, or 0.46%, from the previous trading day.
The rebound came as Samsung Electronics and SK Hynix moved to buy back their own shares for shareholder returns. The buying by the two major semiconductor companies appeared to encourage investment sentiment across the broader stock market, offsetting concerns about a possible U.S. interest-rate increase.
About this summary
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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