SEOUL, Feb. 19 (AJP) – Seoul bourses returned from a three-day Lunar New Year break on Thursday with strong gains, fueled by robust demand for technology and chip shares amid signs of easing U.S. inflation.
U.S. January consumer prices rose 2.4 percent year on year, the slowest pace in eight months. Core inflation, which excludes food and energy, increased 2.5 percent, marking its lowest rise since March 2021.
Nvidia climbed 1.63 percent overnight after reports that Meta Platforms agreed to purchase millions of its latest-generation graphics processing units. The Philadelphia Semiconductor Index rose 0.96 percent.
Softer inflation data and sustained artificial intelligence-related demand lifted risk appetite across Asian markets at the open.
The benchmark KOSPI jumped more than 2 percent in early trading, breaking the 5,600 mark just a week after surpassing its previous three-digit milestone. As of 10:27 a.m., the index stood at 5,643.80, up 2.49 percent, while the tech-heavy KOSDAQ advanced 3.24 percent to 1,141.73.
The Korean won strengthened slightly, trading at 1,451.60 per dollar, up 1.80 won from the previous session.
Investor flows were mixed. Individual and foreign investors sold a net 92.7 billion won ($64 million) and 321.7 billion won, respectively, while institutions bought a net 362.2 billion won.
Heavyweight semiconductor stocks led the rally. As of 9:58 a.m., Samsung Electronics surged 5.08 percent to 190,400 won, while SK hynix gained 1.93 percent to 897,000 won. Battery maker LG Energy Solution rose 0.51 percent to 397,000 won.
Financial and biotech shares also advanced. Samsung Life Insurance climbed 3.16 percent to 212,000 won, and Samsung Biologics added 0.99 percent to 1,727,000 won.
Automakers extended gains, with Hyundai Motor up 0.50 percent and affiliate Kia rising 2.50 percent to 168,200 won.
Defense-related stocks strengthened, led by Hanwha Aerospace, which rose 3.17 percent to 1,140,000 won.
Shipbuilders outperformed the broader market. HD Hyundai Heavy Industries jumped 7.37 percent to 583,000 won, while Hanwha Ocean surged 9.55 percent to 142,200 won.
Elsewhere in the region, Japan’s Nikkei 225 gained 0.78 percent to 57,587.67. Hong Kong markets are set to reopen on Friday, while Shanghai will resume trading on Feb. 24.
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