South Korean market opens higher on tech rally despite rising oil prices
Seoul's stock market began the day up, led by technology shares after Samsung Electronics reported a stronger-than-expected third-quarter profit, even as high oil prices stoked inflation concerns.
The Korea Composite Stock Price Index (KOSPI) rose 0.07 percent to 6,808.68 at the opening bell, driven by gains in tech stocks. Samsung Electronics disclosed an estimated operating profit of 107 trillion won for the third quarter, beating forecasts by about 1.6 percent. Meanwhile, U.S. benchmarks fell, with the Dow Jones down 0.66 percent and the Nasdaq slipping 0.22 percent, reflecting broader market pressure from elevated oil prices.
Why it matters
The rise shows how strong tech earnings can offset inflation worries in Korea's market.
How this story developed
- Sep 21 30-year U.S. Treasury Yield Hits 2002 High Amid Widening Debt Sell-off
- Sep 30 Japanese equities rose alongside broader Asian stocks while markets awaited key US inflation figures that could steer interest-rate policy.
- Oct 7 Nasdaq closed at a record high and Japan lifted its 10‑year bond coupon to 3.1%.
- Oct 7 The Treasury announced plans to sell a $39 billion block of 10‑year notes.
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