South Korean Stocks Keep Climbing, Fueled by Samsung and SK Hynix Gains
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Author:小编   

On March 11, South Korea's Kospi index soared by up to 3.1%, marking its second consecutive day of growth. This surge was primarily propelled by the robust performance of chipmakers Samsung and SK Hynix, whose share prices strengthened significantly. Earlier, these two industry giants had unveiled plans to cancel treasury stocks valued at a combined $14.1 billion. Notably, SK Inc.'s stock price experienced a remarkable spike, surging by 15% at one juncture, while Samsung's stock price saw a 3% uptick. Moreover, Oracle's impressive earnings and its promising outlook for the artificial intelligence sector further invigorated market sentiment. On the same day, South Korea's small-cap Kosdaq index also witnessed a notable rise, climbing by as much as 2.2%. By Wednesday, South Korean stocks had outperformed their counterparts in other major Asian markets, with the MSCI Asia Pacific Index advancing by up to 0.9%.