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Seoul stocks open lower amid U.S.-Iran peace talks prospects
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Seoul stocks opened lower on Thursday amid prospects for U.S.-Iran peace talks. The KOSPI fell 80.19 points, or 1.42 percent, to 5,562.02.
SK hynix Inc. said on Wednesday it has begun taking steps for a US stock market listing to improve access to global investors amid its AI drive. The chipmaker filed a confidential submission with the US Securities and Exchange Commission the previous day, aiming to list American depositary receipts on a US exchange within the year.
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South Korea's exports surged 50.4 percent year-on-year to $53.3 billion in the first 20 days of March, driven by strong semiconductor demand. Korea Customs Service data showed a trade surplus of $12.1 billion for the period.
Shares of Japanese chip parts maker Rohm surged 18% on Friday, marking the largest daily gain in 26 years, after receiving an acquisition proposal from auto parts supplier Denso. The stock hit its daily upper limit of ¥3,243 at close in Tokyo. Rohm has not made any specific decisions on the bid, the company stated.
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South Korea's main stock market, the Kospi, recorded an average daily trading value exceeding 30 trillion won in February, driven by a rally in semiconductor shares. The benchmark Kospi index rose above the 6,000-point level on Wednesday, less than a month after surpassing 5,000 points.
South Korea's exports expanded 23.5 percent year-on-year in the first 20 days of February, driven by strong semiconductor demand. Outbound shipments reached $43.5 billion, resulting in a trade surplus of $4.9 billion. The growth reflects a boom in chip exports fueled by artificial intelligence demand.
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Samsung Electronics reclaimed the top position in the global dynamic random-access memory (DRAM) market during the fourth quarter of last year. According to data from industry tracker Omdia, Samsung's DRAM sales surged 40.6 percent quarter-on-quarter to $19.1 billion, capturing 36.6 percent of the market. SK hynix held 32.9 percent of the market with sales rising 25.2 percent to $17.2 billion.
AMD CEO Lisa Su discusses AI ties with South Korean government, firms
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