South Korea’s stock market rises to 3-year high

ISTANBUL

South Korea’s main stock index surged to a more than three‑year high on Wednesday, driven by gains in technology and auto stocks, as well as continued foreign investor interest, according to Yonhap News.

The Korea Composite Stock Price Index (KOSPI) climbed 35.19 points, or 1.23%, to close at 2,907.04 points, its highest level since Jan. 14, 2022, when it reached 2,921.92 points.

The trading volume was high, with 383.5 million shares exchanged worth 12.3 trillion won (about $9 billion). Advancers outpaced decliners 600 to 281.

Foreign investors extended their buying streak for a sixth consecutive session, boosting sentiment.

Key movers

In Seoul, Samsung Electronics rose 1.18% to 59,900 won, while chipmaker SK Hynix increased 4.12% to 240,000 won.

Hyundai Motor gained 2.03% to 201,000 won, while Kia rose 2.54% to 96,900 won. Hyundai Mobis, an auto parts supplier, rose 4.91% to 288,500 won.

Doosan Enerbility, which operates in the nuclear sector, increased 6.46% to 51,100 won. Kakao, the operator of South Korea's most popular mobile messaging app, rose 2.8% to 51,400 won.

Decliners

Defense and shipbuilding stocks slipped on profit-taking. Hanwha Aerospace fell 3.31% to 905,000 won, while HD Hyundai Heavy Industries dropped 2.11% to 418,000 won.

Financials have also weakened. KB Financial fell 3.34% to 107,200 won, while Shinhan Financial dropped 1.81% to 59,800 won.