South Korean Shares Surge at Open, Led by Tech Giants Samsung and SK Hynix

Deep News

07/10

South Korean equities opened sharply higher on Friday, buoyed by a strong overnight rally across U.S. stock markets, with heavyweight technology stocks leading the advance.

The benchmark Korea Composite Stock Price Index (KOSPI) opened 260.58 points, or 3.57%, higher at 7,552.49.

Overnight, U.S. markets closed in positive territory, lifted by a robust rebound in semiconductor stocks and a decline in oil prices. The Dow Jones Industrial Average rose 0.27%, the S&P 500 gained 0.81%, and the tech-heavy Nasdaq Composite climbed 1.3%.

In the South Korean market, bellwether Samsung Electronics Co., Ltd. opened 3.6% higher, while its chipmaking rival SK hynix surged 4.02%.

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