During late Monday morning trading, South Korean stocks continued their upward trajectory, propelled by the robust performance of the machinery sector. The Korea Composite Stock Price Index (KOSPI), the country’s benchmark index, advanced by 0.56 percent, marking a gain of 14.94 points to reach 2,702.54 as of 11:20 a.m.
Leading the charge in the market were machinery firms, with Hanmi Semiconductor emerging as a standout performer with a notable surge of 8.33 percent. Hanmi Semiconductor, a key supplier of equipment to global chip giants like SK hynix and Micron Technology, attracted significant investor attention, driving its stock price higher.
Another notable gainer was Doosan Enerbility, which experienced a remarkable increase of 11.17 percent following reports of its involvement in a U.S. small modular reactor project. This positive news sparked optimism among investors, fueling a significant uptick in the company’s stock price.
However, the performance of tech stocks was mixed during the trading session. While top tech giant Samsung Electronics witnessed a slight decline of 1.32 percent, SK hynix, the second-largest chipmaker in South Korea, saw a robust gain of 4.48 percent. LG Electronics also demonstrated strong performance, registering a rise of 2.98 percent.
In the currency market, the local currency, the won, exhibited strength against the U.S. dollar, trading at 1,365.2 won, marking an increase of 4.3 won from the previous session’s close. This upward movement in the currency added to the positive sentiment in the South Korean stock market during the late morning session.
Overall, the machinery sector and select tech stocks played a significant role in driving the bullish sentiment in the South Korean stock market, contributing to the overall positive momentum observed during late Monday morning trading.