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South Korea's KOSPI Surges 3.02% to 6,205.66 on July 29 Morning, Recovers Above 6,200

GateNews
Indices
SK Hynix-1.61%
According to Yonhapinfomax, South Korea's KOSPI index surged 3.02% to 6,205.66 on the morning of July 29, recovering above the 6,200 threshold on bargain-hunting following the previous day's sharp selloff and expectations of U.S.-Iran ceasefire negotiations. SK Hynix, which reported second-quarter operating profit of 6.05 trillion won—about 5% below market estimates—rose 4.06% to 1.613 million won as investors viewed recent price adjustments as sufficient to reflect the weaker results. Semiconductor leaders Samsung Electronics and SK Hynix led the index's gains, with both institutional and foreign investors buying on the dip.
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