South Korean Shares Rise on Bargain Hunting
The benchmark KOSPI edged up 0.52% to around 5,266 on Monday, extending gains for another session as bargain hunting and strength in battery makers and financial firms supported the index. Sentiment also improved slightly following strong trade data, with South Korea's exports more than doubling year-on-year to $33.5 billion in the first 10 days of November, driven largely by a 331.2% surge in semiconductor shipments. Notable gainers included LG Energy Solution (+1.51%), Samsung SDI (+1.64%), KB Financial (+0.72%), and Shinhan Financial (+0.82%). Meanwhile, technology shares declined, with Samsung Electronics falling 0.96% and SK hynix shedding 0.99%, as hotter-than-expected US inflation fueled concerns that the Federal Reserve could maintain tighter monetary policy for longer. US consumer prices rose 0.3% month-on-month in October, above expectations, while Wall Street also closed lower overnight, with the Dow falling 0.3% and the Nasdaq shedding 0.74%.
The benchmark KOSPI edged up 0.52% to around 5,266 on Monday, extending gains for another session as bargain hunting and strength in battery makers and financial firms supported the index. Sentiment also improved slightly following strong trade data, with South Korea's exports more than doubling year-on-year to $33.5 billion in the first 10 days of November, driven largely by a 331.2% surge in semiconductor shipments. Notable gainers included LG Energy Solution (+1.51%), Samsung SDI (+1.64%), KB Financial (+0.72%), and Shinhan Financial (+0.82%).
Meanwhile, technology shares declined, with Samsung Electronics falling 0.96% and SK hynix shedding 0.99%, as hotter-than-expected US inflation fueled concerns that the Federal Reserve could maintain tighter monetary policy for longer. US consumer prices rose 0.3% month-on-month in October, above expectations, while Wall Street also closed lower overnight, with the Dow falling 0.3% and the Nasdaq shedding 0.74%.