SK hynix jumps 6% to new high

A financial data screen at Hana Bank's dealing room in central Seoul on Monday shows the Kospi at 6,775.6, gaining 176.73 points, or 2.68 percent, from the previous session. (Yonhap)
A financial data screen at Hana Bank's dealing room in central Seoul on Monday shows the Kospi at 6,775.6, gaining 176.73 points, or 2.68 percent, from the previous session. (Yonhap)

South Korea’s benchmark Kospi hit a fresh high in early trading Monday, lifted by strong gains in chipmakers.

The Kospi opened at 6,782.93, up 2.79 percent from the previous session, surpassing the prior intraday high of 6,750.27 set Thursday, the last trading day before the holiday break. The index had extended its gains to reach a session high of 6,797.18 as of 10:15 a.m.

Retail investors were net sellers, offloading 1.49 trillion won ($1.01 billion), while foreign and institutional investors were net buyers, purchasing 1.04 trillion won and 476.1 billion won worth of shares, respectively, on the main board.

Semiconductor heavyweights led the rally.

SK hynix rose 6.46 percent to a record high of 1.37 million won, while Samsung Electronics gained 2.49 percent to 226,000 won.

Strong earnings from global Big Tech firms and increased spending on artificial intelligence infrastructure boosted investor sentiment.

Meanwhile, the secondary Kosdaq also extended gains, opening 1.67 percent higher at 1,212.28. It stood at 1,217.25, up 2.09 percent on the session, as of 10:15 a.m.


silverstar@heraldcorp.com