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Kospi jumps 0.77% as it follows Wall Street gains

Published: 23 Feb. 2024, 11:04 Updated: 23 Feb. 2024, 11:27

LEE SOO-JUNG
[email protected]

Screens in Hana Bank's trading room in central Seoul shows stock markets open on Friday. [YONHAP]

Stocks got off to a strong start Friday following an overnight rally on Wall Street.

The Kospi gained 20.45 points, or 0.77 percent, to 2,684.72 in the first 15 minutes of trading.

In the United States, Nvidia's surprising earnings result pushed up the indexes to new highs, as the S&P 500 jumped 2.11 percent and the Dow Jones Industrial Average rose 1.18 percent. The tech-heavy Nasdaq composite also vaulted 2.96 percent.

In Seoul, semiconductor shares were the biggest winners.

Samsung Electronics rose 0.27 percent and SK hynix, a key supplier for Nvidia, jumped 6.2 percent.

SK Innovation added 0.24 percent. Samsung C&T advanced 3.6 percent.

However, Korean Air Lines retreated 0.64 percent and HD Korea Shipbuilding & Offshore Engineering skidded 0.94 percent.

The local currency was trading at 1,328.1 won against the dollar, down 0.9 won from the previous session's close.

BY LEE SOO-JUNG, YONHAP [[email protected]]