South Korean Shares End Higher
The benchmark KOSPI rose 0.62% to close at 5,683 on Wednesday, rebounding from earlier losses as investors assessed the implications of Democrats securing control of both chambers of Congress in the US midterm elections. The index initially jumped 2.43% before reversing course and falling as much as 4.0% to an intraday low of 5,421.72, as election developments raised concerns over potential changes to key Trump administration policies, including tighter regulations on AI data centers and increased support for renewable energy and secondary batteries. On the corporate front, gains were led by chipmakers Samsung Electronics (+0.34%) and SK Hynix (+1.0%), as well as financial firms KB Financial (+1.32%) and Shinhan Financial (+1.64%). Meanwhile, LG Energy Solution (-6.21%), Samsung Biologics (-2.0%), and Kia Corp. (-1.60%) recorded losses.
The benchmark KOSPI rose 0.62% to close at 5,683 on Wednesday, rebounding from earlier losses as investors assessed the implications of Democrats securing control of both chambers of Congress in the US midterm elections. The index initially jumped 2.43% before reversing course and falling as much as 4.0% to an intraday low of 5,421.72, as election developments raised concerns over potential changes to key Trump administration policies, including tighter regulations on AI data centers and increased support for renewable energy and secondary batteries.
On the corporate front, gains were led by chipmakers Samsung Electronics (+0.34%) and SK Hynix (+1.0%), as well as financial firms KB Financial (+1.32%) and Shinhan Financial (+1.64%). Meanwhile, LG Energy Solution (-6.21%), Samsung Biologics (-2.0%), and Kia Corp. (-1.60%) recorded losses.