South Korean Shares Rise on Exports, Wall Street Gains
On Wednesday, the benchmark KOSPI index advanced by 0.7% to approximately 3,450, effectively reversing the losses recorded in the previous session. This resurgence was bolstered by strong export figures and a positive closing on Wall Street. South Korea's exports surged by 12.7% in September, reaching $65.95 billion—marking the highest level in over three years. Key contributors to this growth included sectors such as semiconductors, automobiles, ships, and machinery. Additionally, the trade surplus expanded to $5.64 billion, enhancing optimism regarding corporate earnings. Within the corporate sphere, technology and energy stocks were at the forefront of gains. Notably, SK hynix rose by 2.6%, Samsung Electronics increased by 1.6%, Doosan Enerbility climbed 4.2%, and Hyundai Motor saw a rise of 0.5%. Conversely, the index was dragged down by declines in internet, battery, and financial stocks, with notable decreases in Naver, LG Energy Solution, and KB Financial Group. Meanwhile, investors remained vigilant regarding the potential for a US government shutdown, which could disrupt the release of payroll and economic data, thereby keeping global market focus centered on developments in Washington.
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