Upbeat Domestic Econ Data and Tech, Battery Stock Gains Drive South Korean Shares Higher; Samsung, SK Hynix Add 1%

Published on 09/03/2025 at 03:04 am EDT
(MT Newswires) -- South Korean shares closed higher for a second session on Wednesday after the Bank of Korea revised the country's second-quarter real GDP growth upward, along with reporting an increase in the country's official foreign exchange reserves in August.
The Korea Composite Stock Price Index or Kospi rose 12.07 points, or 0.4%, to end at 3,184.42. The Kosdaq also increased by 2.81 points, or 0.4%, to close at 796.81.
Gains made by technology firms and battery manufacturers also drive overall markets higher. Shares of key market bigwigs such as Samsung Electronics and SK Hynix rose nearly 1% at market close.
In economic data, the Bank of Korea on Wednesday revised South Korea's real GDP growth upward to 0.7% in the second quarter of 2025 from the previous quarter from its advance estimate of 0.6% reported in July.
The economic growth in Q2 was the fastest quarterly growth since Q1 2024, when the economy grew 1.2%.
On an annual basis, the South Korean economy expanded 0.6% in Q2, which is also 0.1 percentage point higher than the central bank's earlier estimate of 0.5%.
Meanwhile, real gross national income increased 1% on a quarterly basis in Q2 and 2.2% on a year-over-year basis.
In other economic news, South Korea's foreign reserves marginally expanded to $416.3 billion in August from $411.3 billion as of the end of July, the Bank of Korea said Wednesday.
The country's official forex reserves consisted of securities amounting to $366.2 billion, deposits of $25 billion, special drawing rights of $15.8 billion, gold worth $4.8 billion, and the country's IMF position at $4.5 billion.
South Korea's forex reserve holdings ranked the tenth largest globally as of the end of July, the central bank said.
On the corporate front, Samsung Electronics established an AI-based business-to-business experience center at the KingsQuare shopping mall complex in Bangkok, the electronics products maker said in a Wednesday press release.
The center features 10 commercial concept zones that comprise smart home, retail, air conditioning, and control room, while featuring AI-powered platforms such as SmartThings Pro, Internet of Things-based building integrated management solution b.IoT, Samsung Knox, and Samsung Visual eXperience Transformation (VXT).

Sumber : MT Newswires