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The Economic Times

Anupam Nagar

Global Market: South Korean shares surge 6% as chip stocks rebound

Hyundai Motor Kia LG Energy Solution Samsung SK Hynix

South Korean shares surged more than 6% on Thursday, putting the benchmark KOSPI on track for its biggest daily gain in three weeks as chipmakers rebounded sharply after the previous session's steep selloff, according to a report by Reuters.

The Kospi was up 407.48 points, or 6.30%, at 6,878.65 as of 0153 GMT. If the gains hold, the index would post its strongest daily percentage increase since July 31. The benchmark had closed nearly 6% lower in the previous session.

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