Seoul, Aug 9 (SocialNews.XYZ) South Korean stocks traded 1.41 per cent higher late Friday morning as better-than-expected US jobless data revived investors' appetite for risky assets after the biggest loss earlier this week.
The benchmark Korea Composite Stock Price Index (KOSPI) had gained 36.11 points to 2,592.84 as of 11.20 in the morning, Yonhap news agency reported.
Overnight, latest weekly jobs claim data pushed up US stock indexes, soothing recession fears that had caused a global rout on Monday.
The Dow Jones Industrial Average rose 1.76 per cent, and the tech-heavy Nasdaq composite jumped 2.87 per cent.
In Seoul, large-cap shares led the bullish mode.
Top carmaker Hyundai Motor rose 3.17 per cent and its sister Kia climbed 1.38 per cent.
Defense firm Hanwha Aerospace jumped 3.92 per cent, and steel giant POSCO Holdings increased 2.66 per cent.
But K-pop powerhouse Hybe fell 2.61 per cent, and top instant noodle maker Nongshim declined 1.22 per cent.
The local currency was trading at 1,371.2 won against the US dollar, up 6 won from the previous session.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
