Samsung Reclaims 200,000 Won, SK Hynix Tops 1 Million as Won Surges 33.6 Per Dollar
Summary
- International oil prices plunged, sending Asian stock markets including South Korea and Japan sharply higher.
- On Aug. 8, the Kospi index closed 6.87%% higher at 5,872.34, while the Kosdaq index rose 5.12%% to 1,089.85.
- Samsung Electronics climbed 7.12%% to reclaim the '200,000-won Samsung' level, while construction stocks also hit their daily upper limits.
Forecast Trend Report by Period
Asian stocks, including those in South Korea and Japan, surged after the U.S. and Iran abruptly agreed to a two-week ceasefire, sending international oil prices sharply lower.
On Aug. 8, the Kospi closed 6.87% higher at 5,872.34, while the Kosdaq rose 5.12% to 1,089.85. A wave of buying shortly after the open triggered buy-side sidecars -- a temporary halt on program buy orders -- in both the main board and the Kosdaq market at the same time. Samsung Electronics, the market bellwether, climbed 7.12% to regain the 200,000-won level. Construction stocks, which are expected to benefit from postwar infrastructure rebuilding in the Middle East, also hit their daily upper limits across the board.
Lee Sun-a / Photo by Choi Hyuk suna@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
