Seoul shares ended more than 6 percent higher Wednesday, led by technology stocks, even as tensions in the Middle East persisted. Softer-than-expected U.S. inflation data helped lift sentiment.
The benchmark Korea Composite Stock Price Index closed at 7,284.41, up 427.58 points or 6.24 percent from the previous session. It opened 3.3 percent higher and extended gains on technology buying.
Samsung Electronics rose 6.27 percent to 279,500 won, while SK hynix surged 8.83 percent to 2,082,000 won. Hyundai Motor gained 2.24 percent, Hanwha Aerospace climbed 6.54 percent, and POSCO Holdings added 3.62 percent.
“Softer-than-expected U.S. consumer price index data helped ease inflation concerns, which had intensified amid the continuing conflict in the Middle East,” said Lim Jung-eun, an analyst at KB Research. Institutions and foreign investors bought a net 182.68 billion won and 2.32 trillion won worth of shares.
The Korean won traded at 1,484.7 won against the dollar at 3:30 p.m., stronger than the prior session’s 1,493 won. The three-year Treasury yield fell 2.1 basis points to 3.866 percent.
