This photo, taken Wednesday, shows the trading room of Hana Bank in Seoul as South Korean stocks rose by more than 3.6 percent on a chip rally. Photo by Yonhap
South Korean stocks ended sharply higher for the third straight session Wednesday as investors scooped up major chipmakers. The Korean won gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 233.51 points, or 3.68 percent, to close at 6,579.04, following 0.65 percent and 0.73 percent gains in the previous two sessions.
After opening 1.47 percent higher, the KOSPI further added gains as foreigners and institutions scooped up major chip heavyweights.
At 11:57 a.m., the bourse operator activated a buy-side sidecar. Program trading for the KOSPI-listed shares was suspended for five minutes.
