April 19, 2024
Stocks & Bonds
Seoul shares rise in late morning trading
[THE INVESTOR] South Korean shares traded higher late morning on Jan. 17, with the benchmark KOSPI gaining 11.99 points, or 0.58 percent, to 2,076.16 as of 11:20 a.m.
It was helped by Samsung’s rebound after declining two sessions in a row. A Seoul court will soon make a decision on whether to issue an arrest warrant for Samsung Vice Chairman Lee Jae-yong on bribery, embezzlement, perjury charges.
“Investors seem to perceive that the so-called CEO risk is not associated with the fundamental of a corporation,” Lee Kyung-min, an analyst at Daishin Securities, said. “IT-related shares, which suffered adjustment recently, are also bouncing back.”
The KOSPI’s uptick, however, was limited by uncertainty over the economic policy of the Donald Trump administration to launch later this week.
(theinvestor@heraldcorp.com)
It was helped by Samsung’s rebound after declining two sessions in a row. A Seoul court will soon make a decision on whether to issue an arrest warrant for Samsung Vice Chairman Lee Jae-yong on bribery, embezzlement, perjury charges.
“Investors seem to perceive that the so-called CEO risk is not associated with the fundamental of a corporation,” Lee Kyung-min, an analyst at Daishin Securities, said. “IT-related shares, which suffered adjustment recently, are also bouncing back.”
The KOSPI’s uptick, however, was limited by uncertainty over the economic policy of the Donald Trump administration to launch later this week.
(theinvestor@heraldcorp.com)
