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South Korean shares hit record high on chip rally; China-related stocks fall

* KOSPI rises, foreigners net buyers * Korean won weakens against dollar * South Korea benchmark bond yield rises SEOUL, - Round-up of South Korean financial markets: ** South Korean shares rose more than 2% to hit a record high on Monday, as chipmakers followed their U. S. peers higher, while stocks with exposure to China fell ahead of a summit. ** The benchmark KOSPI was up 91.90 points, or 2.13%, at 4,401.53, as of 0128 GMT, hitting its highest level on record.

South Korean shares hit record high on chip rally; China-related stocks fall

Credit: Livemint

Key Highlights

  • ** Chipmaker Samsung Electronics rose 5.21% to an all-time high and peer SK Hynix gained 1.48%, also notching a record peak, after the Philadelphia Semiconductor Index jumped 4% on Friday.
  • ** South Korean President Lee Jae Myung began a state visit to China on Sunday and is scheduled to meet Chinese President Xi Jinping on Monday, just two months after their first meeting in South Korea.
  • ** Shares of K-Pop agencies, film producers, beauty makers, game developers and travel agencies fell after South Korea's presidential chief of staff said it would take some time to see Beijing lift an unofficial ban on Korean culture.
  • ** South Korea's finance ministry said that authorities would closely monitor financial markets, though the market impact of U. S.
  • strikes on Venezuela and recent missile launches by North Korea was seen limited.
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Sources

  1. South Korean shares hit record high on chip rally; China-related stocks fall

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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