Summary: South Korean stocks closed higher on Monday, with gains in tech and auto shares. The benchmark Korea Composite Stock Price Index rose by 0.47% to 2,582.20. The index initially opened lower due to losses on Wall Street and concerns over an economic recession, but most of these losses were offset by institutional and foreign buying. Large-cap shares, including Samsung Electronics and Hyundai Motor, rose across the board. However, SK Hynix and LG Chem saw slight declines. The construction sector performed well, with Hyundai Engineering & Construction gaining 6.25% after securing a deal to build a petrochemical plant in Saudi Arabia. The local currency, the won, ended at 1,306.3 against the US dollar, down 2.1 won from the previous session’s close.

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By hassani

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