South Korean stocks performed well on Monday, thanks to strong tech companies and signs of inflation cooling in the US economy. The Korea Composite Stock Price Index gained 1.49 percent to close at 2,602.47. The trading volume was moderate, and gainers outnumbered decliners. Analysts believe that the strong consumer sentiment index in the US and positive earnings guidance from Samsung and LG are helping to boost tech stocks. In the US, the personal consumption expenditures index for May showed a drop in inflation compared to April. This has contributed to optimism in the market. Big-cap tech stocks like Samsung Electronics and SK hynix led the gains. Battery makers also saw an increase in stock prices after Tesla reported better-than-expected car deliveries. Steel, energy, and bio stocks performed well, while major mobile carriers and vaccine makers saw a decrease in stock prices. The local currency also rose against the US dollar. Overall, the South Korean stock market had a positive day, driven by strong tech companies and favorable economic indicators.
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