(2nd LD) Seoul shares rise for 2nd day on tech rally amid rate hike woes

Résumé détaillé

(ATTN: ADDS bond yields at bottom; CHANGES photo) SEOUL, Nov. 11 (Yonhap) -- Seoul share...

SEOUL, Nov. 11 (Yonhap) -- Seoul shares ended sharply higher for a second straight session Wednesday, buoyed by a rally in technology stocks amid concerns that hotter-than-expected U.S. inflation could prod the Federal Reserve to pursue an aggressive tightening mode.

After opening 0.56 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) closed up 136.23 points, or 2.6 percent, at 5,375.36 after rising as high as 5,377.99.

Trade volume was light at 219 million shares worth 16.3 trillion won (US$12.2 billion), with gainers outnumbering losers 573 to 295.

Foreigners bought a net 655.26 billion won worth of stocks, while institutions and individuals sold a net 481.67 billion won and 715.69 billion won, respectively.

On Tuesday, the index advanced 4.39 percent, buoyed by a rally in U.S. technology stocks and falling oil prices.

Local stocks bucked overnight losses on Wall Street, where the Dow Jones Industrial Average fell 0.3 percent and the tech-heavy Nasdaq composite declined 0.74 percent.

"Trump's comments suggesting a lower likelihood of military action against Iran drove down oil prices, while bargain hunting in artificial intelligence (AI)-related stocks also buoyed the market," Hyundai Motor Securities said in a research note.

U.S. consumer prices rose 0.3 percent in October from a month earlier, exceeding market expectations and fueling concerns that the Fed could pursue a more aggressive monetary tightening policy to contain inflation.

Investors are also turning their attention to Anthropic's planned initial public offering (IPO) next week.

Début de l'article, extrait de Yonhap. Pour lire la suite, ouvrez l'article chez le média.