South Korean shares end nearly 2% higher on record chip exports
** South Korean shares recouped early losses to end nearly 2 per cent higher on Thursday, led by gains in chipmakers after domestic trade data smashed forecasts to hit a fresh record.
** The benchmark KOSPI closed 133.31 points, or 1.95 per cent higher, at 6,971.35, after falling as much as 1.1 per cent earlier in the session.
** The KOSPI snapped three consecutive sessions of decline to post its biggest daily percentage rise since September 18.
CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less ** "The domestic market was led by strength in the chip sector after export data. However, we still need to see if growth rates will continue to improve," said Seo Sang-young, an analyst at Mirae Asset Securities. ** South Korea's exports jumped 83.5 per cent in September from a year earlier to a record $120.9 billion, beating the median market expectation for a 62.0 per cent increase, as semiconductor shipments more than tripled on global AI spending. ** South Korea's factory activity grew in September at the strongest pace in four months, as export demand hit the fastest pace in 15-1/2 years led by the chip and auto sectors, a survey showed. ** Upbeat domestic data came after US chipmaker Micron Technology forecast quarterly revenue above estimates on Wednesday and said customers had increased commitments under its long-term supply agreements to $32 billion, signalling unabated demand for AI memory chips. ** South Korea's finance minister said authorities would closely monitor financial markets and take pre-emptive action if needed. ** South Korean chipmaker Samsung Electronics rose 2.79 per cent and peer SK Hynix gained 3.21 per cent, leading the benchmark index higher. ** Of the total 916 traded issues, 542 shares advanced, while 332 declined. ** Foreigners were net sellers of shares worth 547.3 billion won ($402.93 million). ** The won was quoted at 1,358.4 per dollar on the onshore settlement platform, 0.20 per cent lower than its previous close at 1,355.7. ** The most liquid three-year Korean treasury bond yield fell by 0.2 basis points to 4.009 per cent, while the benchmark 10-year yield rose by 2.8 basis points to 4.429 per cent. ($1 = 1,358.3100 won)
** "The domestic market was led by strength in the chip sector after export data. However, we still need to see if growth rates will continue to improve," said Seo Sang-young, an analyst at Mirae Asset Securities.
** South Korea's exports jumped 83.5 per cent in September from a year earlier to a record $120.9 billion, beating the median market expectation for a 62.0 per cent increase, as semiconductor shipments more than tripled on global AI spending.
** South Korea's factory activity grew in September at the strongest pace in four months, as export demand hit the fastest pace in 15-1/2 years led by the chip and auto sectors, a survey showed.
** Upbeat domestic data came after US chipmaker Micron Technology forecast quarterly revenue above estimates on Wednesday and said customers had increased commitments under its long-term supply agreements to $32 billion, signalling unabated demand for AI memory chips.
** South Korea's finance minister said authorities would closely monitor financial markets and take pre-emptive action if needed.
** South Korean chipmaker Samsung Electronics rose 2.79 per cent and peer SK Hynix gained 3.21 per cent, leading the benchmark index higher.
** Of the total 916 traded issues, 542 shares advanced, while 332 declined.
** Foreigners were net sellers of shares worth 547.3 billion won ($402.93 million).
** The won was quoted at 1,358.4 per dollar on the onshore settlement platform, 0.20 per cent lower than its previous close at 1,355.7.
** The most liquid three-year Korean treasury bond yield fell by 0.2 basis points to 4.009 per cent, while the benchmark 10-year yield rose by 2.8 basis points to 4.429 per cent.
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Get our pick of top stories and thought-provoking articles in your inbox
Stay updated with notifications for breaking news and our best stories
Join our channel for the top reads for the day on your preferred chat app
