The Kospi, the benchmark index of the Seoul Stock Exchange, rose 0.61% today thanks to purchases by foreign investors, motivated by the possibility that inflation will slow down in the US. USA and the end of the confinement in Shanghai.
The South Korean benchmark advanced 16.24 points to 2,685.9 points, while the Kosdaq technology index gained 6.92 points, or 0.78%, to 893.36 points.
Foreign participants today netted a net worth 1.06 trillion won (about $855 million), their largest amount since August 31.
The motivations were similar to those of the day before, when the selective of the Seoul Stock Exchange rose due to the US inflation data. in April, which points to a possible slowdown in price increases, and the relaxation of restrictions due to the covid in China, with the confinement in Shanghai ending tomorrow.
The biggest influencer on the Kospi, tech giant Samsung Electronics, however, fell 0.44%, although the world’s second-largest memory chipmaker SK Hynix gained 0.93%.
Hyundai Motor, the number one domestic automaker, climbed 1.07%; the largest South Korean chemical company, LG Chem, improved by 5.03%, and the first refinery in the Asian country, SK Innovation, posted a rise of 2.62%.
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