1 month ago
South Korean Stocks Surge 13% on Tech Rally and Microsoft Earnings
South Korean stocks jumped a lot on a Friday morning because people liked the big tech companies.
The main stock index, called KOSPI, went up 13% and finished at 6,310.86.
Samsung Electronics and SK hynix, two big chip makers, rose more than 18% each.
Microsoft, a U.S. tech giant, made a big profit that made investors feel better about spending on artificial intelligence.
South Korea’s factories also made more goods in June, which helped the economy.
The Korean currency, the won, got a little weaker against the U.S. dollar, trading at about 1,432 won for one dollar.
KOSPI jumped 12.82%, closing at 6,310.86 after a 13% rise.
Samsung Electronics and SK hynix led gains, up 18.24% and 21.86% respectively.
Microsoft’s strong earnings lifted global markets, easing AI spending fears.
South Korea’s industrial output grew 2.3% in June, reversing a two‑month decline.
The Korean won weakened to 1,432.4 per dollar.
- Who
- Investors and major South Korean companies
- What
- KOSPI index surged 12.82% after a 13% rise
- Where
- Seoul, South Korea
- When
- Late Friday morning
- Why
- Microsoft’s strong earnings lifted global markets and eased AI spending fears
Key facts
- KOSPI closing value
- 6,310.86
- KOSPI % change
- 12.82%
- Samsung Electronics % change
- 18.24%
- SK hynix % change
- 21.86%
- Korean won per dollar
- 1,432.4
Sources
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