Lead

South Korean stocks opened sharply higher on Friday, propelled by gains in major technology heavyweights, following an overnight advance on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 260.58 points, or 3.57 percent, to 7,552.49 at the opening bell, as reported by Yonhap News.

Coverage Comparison

Yonhap News reported that the market continued to climb through the morning session. By 9:15 a.m., the KOSPI was up 171.01 points, or 2.41 percent, at 7,467.91. The index extended its gains further by 11:20 a.m., adding 250.6 points, or 3.48 percent, to reach 7,545.51. The opening surge was attributed to a rebound in semiconductor shares and easing oil prices, which also lifted U.S. stocks overnight.

According to Yonhap, the Dow Jones Industrial Average gained 0.27 percent, the S&P 500 rose 0.81 percent, and the tech-heavy Nasdaq Composite climbed 1.3 percent in U.S. trading.

In Seoul, blue chip shares led the early run. Yonhap's morning report noted that market bellwether Samsung Electronics advanced 2.16 percent, while SK hynix edged down 0.23 percent after opening higher. A later update from Yonhap said Samsung Electronics had advanced 3.78 percent and SK hynix edged up 0.91 percent as of 11:20 a.m. Samsung Electro-Mechanics, an electronic components manufacturing affiliate of Samsung Electronics, added 6.43 percent in that same update.

Key Claims

  • The KOSPI rose 260.58 points, or 3.57 percent, to 7,552.49 at the opening bell, as reported by Yonhap.
  • By 9:15 a.m., the KOSPI was at 7,467.91, up 171.01 points or 2.41 percent, according to Yonhap.
  • By 11:20 a.m., the KOSPI had added 250.6 points, or 3.48 percent, to 7,545.51, per Yonhap.
  • U.S. stocks closed higher overnight: the Dow gained 0.27 percent, the S&P 500 rose 0.81 percent, and the Nasdaq climbed 1.3 percent, as reported by Yonhap.
  • Samsung Electronics advanced 2.16 percent as of 9:15 a.m., according to Yonhap.
  • Samsung Electronics advanced 3.78 percent as of 11:20 a.m., according to Yonhap.
  • SK hynix edged down 0.23 percent as of 9:15 a.m., per Yonhap.
  • SK hynix edged up 0.91 percent as of 11:20 a.m., per Yonhap.
  • Samsung Electro-Mechanics added 6.43 percent as of 11:20 a.m., per Yonhap.
  • The Korean won traded at 1,509 won against the U.S. dollar as of 9:15 a.m., up 0.5 won from the previous session, as reported by Yonhap.
  • The won traded at 1,504.5 won against the dollar at 11:20 a.m., up 5 won, according to Yonhap.