[Breaking News] After the Lunar New Year Holidays, KOSPI Hits 5600... Samsung Electronics Surpasses 190,000 During Trading
The KOSPI index surged past 5600 on January 19, following the Lunar New Year holidays, with significant gains from major tech firms like Samsung and SK Hynix.
On January 19, after the Lunar New Year holidays, Seoul's stock market saw a remarkable surge in the KOSPI index, which climbed to 5670 during trading. This rise was primarily driven by the performance of major companies in the semiconductor industry, particularly Samsung Electronics and SK Hynix, both of whom saw substantial gains. Samsung Electronics opened at 188,000 won, peaking at 190,900 won, while SK Hynix's price surged from an initial 905,000 won to a high of 913,000 won. The KOSDAQ index also experienced positive movement, opening at 1122.2 after a rise of 16.12 points or 1.46%. The Korean won was traded at 1451.0 against the dollar, reflecting a slight increase in the currency's value. The trends in the Korean market coincided with favorable news from the US, where industrial production for January exceeded expectations with a 0.7% increase, leading to gains in major US indices like NASDAQ and S&P500. This positive momentum in the stock market could indicate a bullish trend moving forward, especially in the semiconductor sector, which remains a critical component of South Korea's economic landscape. Investors are closely monitoring these developments as they may have broader implications for market confidence and economic recovery post-holidays, especially amidst global economic fluctuations.