SEOUL — South Korea’s benchmark was trading sharply higher late Friday morning as investors piled into market heavyweights after oil’s retreat eased the inflation nerves that followed this week’s U.S. Federal Reserve rate hike.
The Korea Composite Stock Price Index (KOSPI) was up 135.91 points, or 2.02 percent, to 6,851.32 as of 11:20 a.m., according to Yonhap market coverage. Samsung Electronics added 2.48 percent, while memory rival SK hynix jumped 4.41 percent — the same chip names that have been setting the tone across Asian sessions as a key U.S. semiconductor gauge rallied.
Broader tape was mixed under the hood: Hyundai Motor rose 0.96 percent and Hanwha Aerospace gained 0.82 percent, while KB Financial slipped 1.95 percent. The won traded at 1,385.4 per U.S. dollar, down 3.9 won from the prior stock-session close — a reminder that a strong equity open and a softer currency can travel together when dollar demand stays sticky.
Regional context helped the mood. Brent crude was extending a multi-day decline toward about US$104 a barrel as supply concerns eased, a move Asian desks have been reading as short-term relief for inflation-sensitive importers such as Korea and Japan.
Bottom line: Seoul’s risk-on bounce is real in the chips, but the won’s slip says the Fed-and-oil story is still unfinished — watch whether afternoon flows keep KOSPI above the psychological 6,800 handle.
*— WWC NEWSDESK*
