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The Kospi rose 46.61 points, or 1.83 percent, to close at 2,588.97 with a rare bipartisan agreement to scrap the implementation of a capital gains tax.
Democratic Party (DP) leader Lee Jae-myung announced Monday that the party has agreed to abolish the capital gains tax, aligning with the government’s push to remove it.
Stocks kicked off slightly higher Monday tracking tech gains on Wall Street, while investors were paying close attention to the U.S. presidential election and the Federal Reserve's rate decision to take place later this week.
Prime Minister Han Duck-soo will deliver the government's 2025 budget speech at the National Assembly on behalf of President Yoon Suk Yeol on Monday, Han's office said.
Hana Financial Group wrapped up its six-year, 150-billion-won ($108.7-million) project to build 100 day care centers across the country, with its 100th and final center completed, the firm said Sunday.
The benchmark Kospi lost 13.79 points, or 0.54 percent, to close at 2,542.36 as Samsung Electronics, SK hynix and Kakao all lost over 1.5 percent.
Shares opened slightly lower Friday as Wall Street experienced a sharp drop on weaker-than-expected earnings from tech heavyweights.
The benchmark Kospi lost 37.64 points, or 1.45 percent, to close at 2,556.15 as foreign investors dumped shares worth 863.5 billion won.
Shares kicked off sharply lower Thursday, tracking overnight losses on Wall Street.
Korea's industrial output fell from a month earlier in September on dwindling production in the semiconductor and other manufacturing sectors, data showed Thursday.
Korea JoongAng Daily Sitemap