Kospi Rises, foreign online buyers
South Korea has been strengthened against the dollar
Korean benchmark bonds are stable
Seoul, – Summary of Korean financial markets:
**Stocks in South Korea rose on Wednesday and were led by new rally across high-tech companies amid optimism over policy over artificial intelligence and cryptocurrency, but broader market sentiment was in geopolitical tensions in the Middle East.
**Benchmark Kospi rose 20.55 points (0.70%) at 2,970.85 as of 0222 GMT.
**Search engine Naver jumped 15.25%, while Instant Messenger Cacao jumped 6.37%.
**The Technology division resumed a rally seen earlier this week after President Lee Jemune, who has pledged to increase investment in AI, appointed head of the future AI centre on Monday as his first AI secretary.
** “The US bill on stable coins has also heightened investors' feelings about the sector,” said Huh Jae-Hwan, an analyst with Eugene Investment Securities, referring to what is called the Genius Act.
**Nevertheless, concern over the escalation of hostility in the Middle East remained at the forefront of market sentiment.
**President Donald Trump called for Iran's unconditional surrender on Tuesday, warning that our patience is diminishing, but said he has no intention of killing Iranian leaders as the Israeli-Iranian war has entered its sixth day.
**Among other index heavyweights, Korean chipmaker Samsung Electronics rose 2.07%, while Peer SK Hynix lost 0.10%. Battery manufacturer LG Energy Solutions slides 0.34%.
**Hyundai Motor and sister automaker Kia Corp have dropped by 0.37% and 0.95%, respectively. Steelmaker Posco Holdings added 0.19%, while drugmaker Samsung Biologics fell 0.50%.
**Of a total of 935 trading issues, 469 shares have progressed and 401 have declined.
**The foreigners were net buyers of 81 billion won worth of stock.
** WON is cited at 1,372.4 per dollar on the land settlement platform, 0.12% higher than the previous closing price than 1,374.0.
**In the money and debt market, the September futures of the Treasury debt for three years lost 0.01 points at 107.20.
**The most liquid 3-year Korean financial debt yield increased by 0.5 basis points to 2.454%, while the 10-year benchmark yield increased by 2.863% from 0.5 basis points.
This article was generated from an automated news agency feed without any text changes.
