Seoul stocks surge 6%, triggering sidecar; AI-related buying ahead of US earnings

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โดย Reuters·Read original
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The Seoul stock market soared, with the KOSPI up 316.67 points, or 4.69%, at 7,064.62 as of 0341 GMT. During the session, it briefly rose as much as 6.2%, while the Kosdaq index for emerging companies also gained nearly 5%. A sidecar, a temporary halt on program trading triggered when the index moves more than 5%, was activated for the 11th time in 15 business days this month. Ahead of earnings reports from major US tech and semiconductor companies, investors are rotating back into artificial intelligence-related stocks, supported by a more than 5% surge in the Philadelphia Semiconductor Index in the previous US session.

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