24.10.202502:20:02UTC+00KOSPI Advances on Tech and Financial Gains

The benchmark KOSPI index rose by 2.01%, reaching approximately 3,922 on Friday, as it recovered from the previous session's losses and moved towards a potential record high. Leading the charge were major technology and financial stocks, with tech giants like Samsung Electronics advancing by 1.87% and SK Hynix soaring 5.85%. In the financial sector, KB Financial inched up by 0.09% and Shinhan Financial climbed 1.09%, contributing to the overall momentum. Market sentiment was buoyed by easing tensions between the US and China, fueling optimism for trade developments ahead of discussions between Vice Premier He Lifeng and US officials at the ASEAN summit in Malaysia, focused on trade and rare earth exports. Domestically, progress was reported in the latest trade talks between South Korea and the US, and leaders remain hopeful of bridging any remaining gaps, according to Kim Yong-beom, the Presidential Chief of Staff for Policy, following meetings in Washington. He indicated that with the approaching APEC summit, there is potential for further progress in the concluding phase.