November 20, 2023Business Desk

South Korean shares close up on Fed, chip outlook

South Korean shares rose on Monday as softer US economic data last week fuelled optimism that the Federal Reserve is about to end its tightening cycle.

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The benchmark KOSPI closed up 21.35 points, or 0.86%, at 2,491.20.

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Among index heavyweights, chipmaker Samsung Electronics rose 0.28% and peer SK Hynix gained 1.15%, while battery maker LG Energy Solution climbed 2.78%.

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Of 937 traded issues, 652 shares advanced, while 230 declined.

Source: Pexels