South Korea's economy grew faster than expected in the second quarter as robust semiconductor exports offset weakness in construction investment, reinforcing optimism around the country's technology sector even as the central bank remains on course for further interest rate hikes, according to Reuters.
Advance estimates released by the Bank of Korea on Thursday showed gross domestic product (GDP) expanded 0.6% in the April-June quarter from the previous three months on a seasonally adjusted basis, ahead of the 0.4% growth forecast by economists polled by Reuters.
