Seoul shares rise almost 1.5% on chip, battery gains
South Korean stocks finished nearly 1.5 percent higher Wednesday, as investors scooped up semiconductor and battery shares despite overnight losses on Wall Street. The local currency rose sharply against the greenback.
The benchmark Korea Composite Stock Price Index gained 37.22 points, or 1.47 percent, to close at 2,574.82.
Trade volume was moderate at 396.7 million shares worth 12.23 trillion won ($8.44 billion), with winners outpacing losers 509 to 354.
Foreign and institutional investors together bought a net 411.6 billion won, while retail investors unloaded a net 503.6 billion won.
Overnight, US stock markets fell for the second straight session amid lingering uncertainties over tariff policies of US President Donald Trump.
The S&P 500 dipped 0.76 percent, and the Dow Jones Industrial Average declined 1.14 percent, while the tech-heavy Nasdaq fell 0.18 percent.
"Despite continued corrections in the US stock market, the Korean stock market has remained relatively stable. However, increased volatility linked to tariff concerns will be unavoidable," Kim Ji-won, an analyst at KB Securities, said.
Market heavyweight Samsung Electronics climbed 2.43 percent to 54,900 won, and chip rival SK hynix soared 5.91 percent to 198,900 won.
Battery manufacturers also reversed losses from the previous session. Industry leader LG Energy Solution jumped 2.2 percent to 348,500 won, and Samsung SDI rose 1.91 percent to 213,000 won.
Top automaker Hyundai Motor gained 1.33 percent to 198,200, while leading bio firm Samsung Biologics rose 1.03 percent to 1,079,000 won.
The local currency was trading at 1,451 won against the US dollar at 3:30 p.m., up 7.2 won from the previous session. (Yonhap)
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