** South Korean shares hit a document excessive on Thursday, as chipmakers surged on partnership agreements with U.S. synthetic intelligence agency OpenAI.
** The benchmark KOSPI was up 107.14 factors, or 3.10%, at 3,562.97, as of 0246 GMT, after hitting its document excessive at 3,565.96.
** Samsung Electronics rose greater than 4% to its highest degree since January 2021, and SK Hynix gained greater than 12% to an all-time excessive.
** The 2 chipmakers, accounting for practically 30% of the benchmark index by market capitalisation, signed a deal on Wednesday to produce reminiscence chips for OpenAI’s information centres.
** Samsung Electronics’ associates Samsung SDI, Samsung C&T and Samsung SDS additionally rose sharply on the deal. ** “We had anticipated some profit-taking earlier than holidays, however the semiconductor sector is main the benchmark’s positive factors with sturdy international inflows on upbeat exports and the OpenAI deal,” mentioned Lee Sung-hoon, an analyst at Kiwoom Securities. ** The worldwide AI growth has been driving sturdy demand for semiconductors, which led South Korea’s exports to rise in September on the quickest tempo in 14 months regardless of successful from U.S. tariffs, blowing previous market expectations.
** Foreigners had been web patrons of native shares price 1.72 trillion received ($1.23 billion).
** South Korean monetary markets shall be closed from October 3 to October 9 for public holidays.
** Amongst different index heavyweights, battery maker LG Vitality Answer climbed 1.44%, whereas Hyundai Motor and sister automaker Kia Corp had been up 1.97% and a pair of.78%, respectively.
** Steelmaker POSCO Holdings shed 0.18%, whereas drugmaker Samsung BioLogics rose 0.50%.
** The received was quoted at 1,401.3 per greenback on the onshore settlement platform, 0.12% larger than its earlier shut at 1,403.0.
** Essentially the most-liquid three-year Korean treasury bond yield fell by 1 foundation level to 2.588%, whereas the benchmark 10-year yield fell by 0.1 bp to 2.959%. ($1 = 1,401.4000 received).
as a Dependable and Trusted Information Supply
