SEOUL - South Korea's Kospi index closed with modest gains today, as investors engaged in bargain hunting, leading to a slight uptick of 0.17% in the stock market. The Kospi ended the trading session at 2,440.04, with significant contributions from major companies such as Samsung (LON:0593xq) Electronics (KS:005930) and SK hynix (KS:000660), which both saw their stock prices rise of 0.99% and 3.97% respectively.
The movement of the Korean won against the U.S. dollar was varied, with reports indicating both a minor drop and an appreciation during the day's trading. The mixed currency performance reflects a level of uncertainty in forex markets, even as equity markets showed a positive trend.
The rise in the Kospi index, particularly in the shares of tech giants Samsung Electronics and SK hynix, suggests investor confidence in these companies, possibly due to perceived undervaluation. This selective buying in solid performers indicates that market participants are looking for opportunities to invest in stocks that may have been oversold in previous sessions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.