Seoul Stocks Bounce Back on Tech Gains Despite Global Uncertainty
Seoul's stock market turned higher late Wednesday morning, driven by gains in technology stocks. Despite opening 0.24 percent lower, the Korea Composite Stock Price Index (KOSPI) rose to 6,640.47, a gain of 13.21 points or 0.2 percent as of 11:20 a.m.
Investors bought a net 388.99 billion won ($284 million) worth of shares, while foreign investors and retail investors offloaded a net 922.78 billion won and 126.95 billion won respectively.
The US Federal Reserve's interest rate decision this week has kept investors cautious, but some tech stocks showed resilience. Samsung Electronics rose 0.6 percent, SK hynix climbed 1.45 percent, POSCO International jumped 2.55 percent, and LG Energy Solution increased by 0.68 percent.
On the other hand, top carmaker Hyundai Motor fell 2.04 percent, and national flag carrier Korean Air lost 1.7 percent.