{"slug": "seoul-shares-open-higher-on-bargain-hunting-after-chip-rout", "title": "Seoul shares open higher on bargain hunting after chip rout", "summary": "Seoul shares opened sharply higher Wednesday, with the KOSPI rising 2.23 percent to 6,157.90, as investors went bargain hunting after a 10.84 percent plunge the previous session driven by a sell-off in AI-related chip stocks. Tech stocks led the gains, with Samsung Electronics jumping 5.23 percent and SK hynix climbing 3.55 percent after posting a record net profit of 93.92 trillion won for the April-June period.", "body_md": "Seoul shares opened sharply higher Wednesday as investors went bargain hunting following a nearly 11 percent dip the previous session on a loss in chipmaking stocks.\n\nAfter opening 1.09 percent higher, the benchmark Korea Composite Stock Price Index rose 134.24 points, or 2.23 percent, to 6,157.90 as of 9:15 a.m.\n\nOn Tuesday, the index plunged 10.84 percent to close at 6,023.66 amid woes over the future of large-scale investment into artificial intelligence infrastructure and rising competition from China, which led to a heavy sell-off of AI-related stocks, such as chipmakers.\n\nThe rebound comes as a three-day slide in oil prices boosted risk sentiment despite concerns over AI spending.\n\nOvernight, Wall Street ended mixed. The Dow Jones Industrial Average gained 1.03 percent, while the tech-heavy Nasdaq composite slipped 0.22 percent.\n\nIn Seoul, tech stocks led the gains.\n\nMarket bellwether Samsung Electronics jumped 5.23 percent, while its rival SK hynix climbed 3.55 percent.\n\nSK hynix posted a record net profit of 93.92 trillion won ($64.6 billion) for the April-June period, skyrocketing from 6.99 trillion won a year earlier.\n\nIts operating profit also jumped over sixfold to 60.54 trillion won from 9.21 trillion won, driven by robust demand for high bandwidth memory chips and other memory products.\n\nLG Electronics, the No. 1 home appliance maker, rose 1.9 percent, and shipping firm HMM climbed 1.75 percent.\n\nAmong decliners, leading battery maker LG Energy Solution fell 0.8 percent, and defense giant Hanwha Aerospace declined 1.94 percent.\n\nThe Korean won was trading at 1,457.10 won against the US dollar as of 9:15 a.m., down 3 won from the close of stock trading the day before. (Yonhap)", "url": "https://wpnews.pro/news/seoul-shares-open-higher-on-bargain-hunting-after-chip-rout", "canonical_source": "https://www.koreaherald.com/article/10823831", "published_at": "2026-07-29 00:44:34+00:00", "updated_at": "2026-07-29 00:55:15.797027+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-chips"], "entities": ["Samsung Electronics", "SK hynix", "LG Electronics", "HMM", "LG Energy Solution", "Hanwha Aerospace", "KOSPI", "Yonhap"], "alternates": {"html": "https://wpnews.pro/news/seoul-shares-open-higher-on-bargain-hunting-after-chip-rout", "markdown": "https://wpnews.pro/news/seoul-shares-open-higher-on-bargain-hunting-after-chip-rout.md", "text": "https://wpnews.pro/news/seoul-shares-open-higher-on-bargain-hunting-after-chip-rout.txt", "jsonld": "https://wpnews.pro/news/seoul-shares-open-higher-on-bargain-hunting-after-chip-rout.jsonld"}}