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Tech shares lead gains for Korean stocks

Published: 07 Jan. 2025, 16:46

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Tuesday. [YONHAP]

Korean stocks traded markedly higher late Tuesday morning, led by strong gains from large-cap tech shares.

The Kospi had risen 25.47 points, or 1.01 percent, to 2,514.11 as of 11:20 a.m.

The index opened higher, tracking a rally for chip shares on Wall Street, and had maintained the momentum on solid buying by foreigners. Institutions turned to buying mode.

Samsung Electronics advanced 0.89 percent, while SK hynix shed 0.55 percent following the previous session's jump.

LG Energy Solution surged 2.07 percent, and LG Chem climbed 1.56 percent.

Major bio shares gathered ground, with Samsung Biologics spiking 4.86 percent and Celltrion increasing 1.03 percent.

Posco Holdings went up 0.57 percent, and Naver went up 0.48 percent.

Carmakers traded mixed. Hyundai Motor rose 0.24 percent, while Kia lost 0.6 percent.

The local currency was trading at 1,454.55 won against the U.S. dollar at 11:20 a.m., down 15.15 won from the previous session.

Yonhap