Fed and chip makers keep positive streak in Seoul

Seoul, Sep 19 (EFE) .- The Seoul Stock Exchange achieved its tenth consecutive rise on Thursday thanks to the drop in US rates. and the escalation of South Korean technology led by chip makers, according to local analysts.

The Kospi ended today with an advance of 9.62 points, 0.46%, to stand at 2,080.35 units, while the Kosdaq technology index gained 0.09% or 0.59 points at the close, until it was at 645.71 integers.

The reduction of a quarter point for the reference announced in the US Wednesday gave momentum to Seoul, which also benefited from the escalation of large local semiconductor manufacturers, whose business prospects have improved thanks to a recovery in demand, according to recent analyzes.

However, local economists warned that Kospi participants are still looking at trade negotiations between China and the US. and in the global supply of crude oil after the attack on Saudi facilities.

This, they point out, prevents more blunt increases for now (despite the good run, Seoul has barely gained 5.8% combined in the last ten sessions).

Today's rise was led by the reference asset of Kospi and the world's largest semiconductor producer, Samsung Electronics, which gained 3%, along with also the chip manufacturer SK Hynix, which improved its price by 3.1%.

Other technology companies benefited, such as the Samsung SDI battery manufacturer, which advanced 0.9%, and LG Display, which rose 2.4%.

In contrast, the car manufacturer Kia Motors, a subsidiary of Hyundai Motor, fell 0.7%, while the auto parts subsidiary of the Hyundai Mobis group lost 1.6%.