stocks-morning
Seoul stocks sharply up late Thu. morning on tech rallies
SEOUL, May 21 (Yonhap) -- South Korean stocks traded sharply higher late Thursday morning as Samsung Electronics averted a strike and other market heavyweights advanced on hopes for a possible agreement between the United States and Iran to end the war in the Middle East.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 6.83 percent to 7,701.13 as of 11:20 a.m.
As stocks extended gains, buy-side orders in KOSPI futures were suspended for five minutes at around 9:23 a.m.
Overnight, U.S. stocks advanced as crude oil prices declined after reports that U.S. President Donald Trump said Washington was in the "final stages" of talks with Iran.
In Seoul, large-cap shares were trading higher.
Market bellwether Samsung Electronics gained 5.89 percent after it reached a tentative deal with its labor union to avert a strike. Its chipmaking rival SK hynix jumped 9.91 percent.
Artificial intelligence investment firm SK Square surged 10.01 percent.
Auto shares also traded higher
Top automaker Hyundai Motor surged 8.95 percent and its sister Kia rose 10.84 percent. Auto-parts affiliate Hyundai Mobis skyrocketed 18.69 percent.
The Korean won was trading at 1,502.7 won against the U.S. dollar at 11:20 a.m., up 4.1 won from the previous session.
The dealing room at Hana Bank in Seoul on May 21, 2026 (Yonhap)
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