The Korea Times
Seoul stocks traded higher late Thursday morning at above the landmark 6,700-point mark as investors' risk appetite was boosted thanks to strong earnings from Samsung and U.S. big tech giants, which fueled hopes for a continued artificial intelligence (AI) boom. The benchmark Korea Composite Stock Price Index (KOSPI) had added 22.91 points, or 0.34 percent, to 6,713.81 as of 11:20 a.m. after rising as high as 6,739.39 at the opening bell. The index closed at a new peak of 6,690.90 the previous day, extending its gains to a third consecutive day. Overnight, major U.S. indexes closed mixed, with a sharp rise in international oil prices, sparked by woes over the extended blockade of the Strait of Hormuz, weighed down on the market ahead of earnings releases of U.S. tech giants, including Alphabet, Amazon.com, Meta Platforms and Microsoft. After the U.S. markets closed, all four companies reported stronger-than-expected revenue in the first quarter, reviving hopes for a continued AI boom. In Seoul, market top-cap Samsung Electronics, the world's leading memory chipmaker, rose 0.22 percent, af
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