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Chip up cycle won’t stay long: SK chief
South Korean stocks opened higher Thursday after four days of losses as investors bought on expectations of stock price hikes.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.38 points, or 0.28 percent, to 3,004.73 points in the first 15 minutes of trading amid foreign buying.
Stocks rebounded to positive terrain after the first five minutes, as impacts from news reports that North Korea launched two projectiles into the East Sea rapidly subsided.
Market kingpin Samsung Electronics edged up 0.12 percent, while No. 2 chipmaker SK hynix lost 0.75 percent.
Top automaker Hyundai Motor retreated 0.45 percent, but leading chemical firm LG Chem jumped 2.17 percent.
Pharmaceutical giant Samsung Biologics moved down 0.42 percent, while Celltrion climbed 0.33 percent.
The local currency was trading at 1,134.45 won to the US dollar, down 0.85 won from the previous session's close. (Yonhap)
The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.38 points, or 0.28 percent, to 3,004.73 points in the first 15 minutes of trading amid foreign buying.
Stocks rebounded to positive terrain after the first five minutes, as impacts from news reports that North Korea launched two projectiles into the East Sea rapidly subsided.
Market kingpin Samsung Electronics edged up 0.12 percent, while No. 2 chipmaker SK hynix lost 0.75 percent.
Top automaker Hyundai Motor retreated 0.45 percent, but leading chemical firm LG Chem jumped 2.17 percent.
Pharmaceutical giant Samsung Biologics moved down 0.42 percent, while Celltrion climbed 0.33 percent.
The local currency was trading at 1,134.45 won to the US dollar, down 0.85 won from the previous session's close. (Yonhap)
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