FILE: Korea Exchange building in Busan, South Korea, March 2012. Photo: hyolee2 / Wikimedia Commons, ‘Korea exchange.JPG’, CC BY-SA 3.0; cropped/resized, adapted photo under same license.
South Korea’s Kosdaq jumped more than 3% and the Kospi climbed almost 2% in Friday morning trading in Asia, leading a regional rebound even after Wall Street slipped on Thursday.
The Kosdaq surged 23.38 points, or 3.36%, to 719.91, and the Kospi gained 104.22 points, or 1.95%, to 5,446.95, in figures checked on the Korea Exchange homepage at 10:01 a.m. Friday, November 13, in Seoul. Japan’s Nikkei 225 rose 822.74 points, or 1.35%, to 61,642.10, in the Nikkei Stock Average site’s 10:01 a.m. Tokyo quote. These are intraday snapshots, not closing levels.
The gains reverse Thursday’s early losses and came despite a down session in New York, where the Nasdaq Composite closed at 25,366.09, off 100.10 points, or 0.39%, and the PHLX Semiconductor Index fell 57.44 points, or 0.54%, to 10,506.67, according to Nasdaq data.
For investors holding Korea- and Japan-focused funds, the early gains are a rebound in these benchmarks, with the Kosdaq’s percentage rise larger than the Kospi’s.
The Nikkei opened at 61,223.41 and climbed to 61,796.20 by 9:40 a.m., the Nikkei Stock Average site shows.
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