South Korean stocks edged higher on Thursday morning, nearing the significant milestone of 8,000, with large-cap shares displaying varied trends. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 0.68 percent to 7,897.18, coming close to 8,000. The KOSPI’s positive momentum was influenced by the tech sector’s gains in major U.S. indexes, including the Nasdaq and S&P 500 hitting new highs.
Wall Street saw a boost as key figures from tech giants like Nvidia, Tesla, and Apple accompanied U.S. President Donald Trump on his visit to China, raising hopes of reduced tensions between the two economic powerhouses. Despite concerns over U.S. producer prices and stalled U.S.-Iran peace talks, the market remained resilient.
In the South Korean market, Samsung Electronics surged by 3.17 percent, while SK hynix dipped by 0.4 percent. LG Energy Solution and Samsung Electro-Mechanics also saw positive movements. Samsung Life Insurance and KB Financial recorded gains, but Hyundai Motor and Kia faced declines. Hyundai Mobis, however, experienced an increase.
Notably, major companies like HD Hyundai Heavy and Doosan Enerbility witnessed declines, along with electrical firms like HD Hyundai Electric and LS Electric. SK Square, an AI investment firm, also registered a decrease. The Korean won was trading at 1,491.9 won against the U.S. dollar.
