The Korea Times
Korean stocks opened at a new high Thursday, attempting to reach another historic milestone of 8,000, as large-cap shares took a cue from an overnight rally on Wall Street, boosted by major tech companies. The benchmark Korea Composite Stock Price Index (KOSPI) rose 29.9 points, or 0.38 percent, to a fresh peak of 7,873.91 at the opening bell. The KOSPI kicked off bullish as major U.S. indexes reached new highs overnight, driven up by a boost in blue chip tech shares. The tech-heavy Nasdaq composite closed 1.2 percent higher, and the S&P 500 added 0.58 percent, while the Dow Jones Industrial Average lost 0.14 percent. Wall Street was buoyed more by news that chiefs from artificial intelligence (AI) chip giant Nvidia, Tesla, Apple and other major tech companies joined U.S. President Donald Trump's business delegation to Beijing, rather than lingering woes over little progress in peace talks between the United States and Iran. Concerns over a faster-than-expected rise in U.S. producer prices, a key gauge of inflation, in April were also not enough to cool down the U.S. market.
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