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  • KOSPI shatters 7,300, outpacing Asia as foreign buying floods chip stocks KOSPI shatters 7,300, outpacing Asia as foreign buying floods chip stocks SEOUL, May 06 (AJP) - South Korea’s benchmark KOSPI surged to a fresh record high Wednesday, sharply outperforming regional peers as foreign investors piled into semiconductor heavyweights, while most Asian markets posted more modest gains and Japan remained closed for the Golden Week holiday. The KOSPI jumped 6.5 percent to close at 7,384.56, after moving between an intraday low of 7,093.00 and a high of
  • Seoul at a strategic crossroads as Hormuz crisis deepens Seoul at a strategic crossroads as Hormuz crisis deepens SEOUL, May 06 (AJP) - A third Korea-bound tanker has begun a longer but safer voyage through the Red Sea to carry much-needed crude home, while an HMM cargo carrier damaged by an explosion in the heart of the Strait of Hormuz is being towed toward port — two parallel scenes underscoring the growing price South Korea is paying for its heavy dependence on Middle Eastern energy supplies. With both Wa
  • Stocks on unfettered rally, bonds dip as Seoul markets bet on inflation-driven rate hike Stocks on unfettered rally, bonds dip as Seoul markets bet on inflation-driven rate hike SEOUL, May 6 (AJP) — The rationale for higher interest rates gained ground in South Korea as inflation, long subdued by lethargic demand, accelerated at the fastest pace in 21 months in April after the blockade of the Strait of Hormuz triggered a surge in imported prices, while the benchmark stock index nearly tripled from a year earlier to touch a new four-digit milestone. According to data released by
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