Korean stocks opened sharply higher Thursday, driven by gains in semiconductor shares stemming from a stronger-than-expected earnings report by U.S. memory chipmaker Micron Technology.
The benchmark Korea Composite Stock Price Index (KOSPI) added 232.40 points, or 2.74 percent, to 8,703.42 at the opening bell.
Overnight, Wall Street closed mixed on concerns about overvaluation of artificial intelligence (AI)-related shares.
The Dow Jones Industrial Average rose 0.35 percent, while the S&P 500 lost 0.1 percent and the Nasdaq composite retreated 0.43 percent.
However, investor sentiment was boosted after Micron released its quarterly report following the market closure as its results and forecast both exceeded expectations.
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koreatimes.co.kr — original article