Seoul stocks rallied significantly on Friday, driven by tech giants, especially in the chip sector, following a milestone breach of the 9,000 level in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) surged by 2.21 percent to 9,264.51, with notable gains in the tech industry.
The positive momentum was influenced by the uptrend on Wall Street, particularly led by major chip manufacturers like Intel. This surge was further fueled by reports of a deal between Intel and Apple for chip production in the U.S., as announced by President Donald Trump. In response, the index peaked above 9,300 during the trading session.
Among the key players in the market, Samsung Electronics, the leading market cap in Seoul, saw a 1.38 percent increase, while SK hynix, another major tech player, recorded a substantial jump of 5.92 percent. Additionally, Hyundai Motor, LG Energy Solution, and Doosan Enerbility also witnessed notable movements in their stock prices.
The Korean won was trading at 1,538.1 won against the U.S. dollar, showing a slight decline from the previous session. Meanwhile, recent data from the central bank revealed shifts in South Korea’s current account surplus with various countries, including a decrease in surplus with the U.S. and widened deficits with China and Japan.
