South Korean stocks opened sharply higher on Monday as investors took to purchasing stocks at a bargain, owing to last week's technology-led selloff on profitability concerns over AI companies, Yonhap News reported the same day.
The Korea Composite Stock Price Index or Kospi rose by 212.31 points, or 4.2%, to hit 5,301.45, while the Kosdaq increased by 33.01 points, or 3.05%, to hit 1,113.78 as of 10:56 am, Korea time.
Shares of market bigwigs Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) rose more than 4% and nearly 5%, respectively, in recent trade. Shares of Hyundai Motor (KRX:005380) and Kia (KRX:000270) increased over 2% and 1%, respectively.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)