Tech Rally Causes Korean Stock Market to Open at a Record High
It is pretty amazing how stock markets continue to set new highs despite the oil disruptions in the Middle East:
South Korean stocks opened at a fresh record high Monday as investor appetite for tech shares helped offset uncertainty surrounding negotiations between the United States and Iran over a peace agreement.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 120.03 points, or 1.42 percent, to 8,596.18 as of 9:15 a.m., continuing its upward momentum after opening at a fresh high.
The KOSPI closed at a record high of 8,476.15 on Friday.
You can read more at the link.
It’s all thanks to Hynix and Samsung. Nothing to do with the gov’t. Lee just wants credit for it. AI boom is affecting all markets, not just SK but it’s more impacting due to Korea’s strong tech infra.
A little off topic but slightly related:
Does anyone have any thoughts on the so called saaspocalypse earlier this year?
I definitely think ai is a disruptor but I believe some companies that sold off have the potential to benefit from the ai boom.
If a lot of work is going to be automated I think that some form of software will still need to coordinate the workflow at least for some period of time.
Had Yoon been President during this time, no doubt you would be praising Yoon’s genius moves that enabled the stock market rally.
That’s how you right wingers works which makes you all so predictable.