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🇵🇾 Paraguay /Economy & Trade

South Korea’s Kospi jumps nearly 3.5% on tech shares despite Middle East war

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency Ongoing story
  • South Korea’s Kospi rose 3.3% in early trading, supported by technology shares, despite recent attacks involving Iran and the United States.
  • Samsung Electronics gained just over 4%, while SK hynix rose nearly 6%; the Kosdaq also advanced.
  • The market move followed Iran’s claim that it attacked oil tankers and U.S.-linked vessels in the Strait of Hormuz.

South Korea’s Kospi surged nearly 3.5% at Monday’s opening, as technology stocks pushed the market higher despite an escalating exchange of attacks between Tehran and Washington.

Twenty minutes after the opening bell, the benchmark had gained 3.3%, or 220.92 points, to 6,908.13. The Kospi had already risen 1.64% in the previous session. The technology-focused Kosdaq climbed 1.18%, or 9.63 points, to 823.13.

Chipmakers led the advance. Samsung Electronics, a benchmark company on the local market, rose slightly more than 4%, while SK hynix climbed almost 6%. Hanmi Semiconductor, which develops semiconductor manufacturing equipment, jumped about 5.5%.

The gains came despite developments around the conflict in the Middle East. Iran said it had attacked three oil tankers in the Strait of Hormuz and three vessels linked to the United States, in response to attacks by the U.S. military on three Iranian tankers the previous Saturday.

Automakers also advanced. Hyundai Motor shares rose about 2.5%, while its affiliate Kia gained approximately 1%.

About this summary

Originally published by ABC Color in Spanish. 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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