finance

Seoul Stocks Rise 2.29 Percent After U.S. Strikes on Iran

The KOSPI climbed 149.39 points to 6,665.66 by 11:25 a.m. local time on July 21 after foreign and institutional investors bought technology shares. Overnight declines on Wall Street followed new U.S. strikes against Iran.

Jul 20, 10:34 PM(9 hrs ago)·1m read1 source

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Seoul stocks erased earlier losses and traded higher on July 21 as investors bought technology shares, Yonhap reported. The benchmark KOSPI rose 149.39 points, or 2.29 percent, to 6,665.66 as of 11:25 a.m. local time.

Foreign and institutional investors lifted the index by purchasing tech heavyweights. Overnight U.S. stocks closed lower as investors assessed renewed Middle East hostilities risk, with major U.S. technology companies scheduled to release earnings reports later in the week.

The United States completed more strikes against Iran, U.S. Central Command said on July 20 local time. President Donald Trump stated the same day that Iran would pay for the deaths of three U.S. service members.

Samsung Electronics shares rose 4.82 percent. SK hynix advanced 2.72 percent. KB Financial gained 0.3 percent, Hanwha Aerospace added 2.63 percent, and Naver rose 3.17 percent. The Korean won traded at 1,479.2 won per U.S.

Down 1.3 won from the previous session.

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