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South Korea's Kospi Hits All-Time High; Samsung Rises 6%

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South Korea's benchmark index Kospi closed at an all-time high on Monday, with the rally driven by chip giants Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), which gained over 6% and nearly 12%, respectively.

The Korea Composite Stock Price Index or Kospi increased by 324.24 points, or 4.3%, to end at 7,822.24. The Kosdaq finished little changed in negative territory at 1,207.34.

In economic news, South Korea's exports surged 43.7% to $18.4 billion in the first 10 days of May from $12.8 billion a year earlier, Monday data from the Korea Customs Service showed.

Imports increased 14.9% to $16.7 billion, resulting in a $1.7 billion trade surplus.

In corporate news, shares of Hanwha Ocean (KRX:042660) rose 3% after the company secured a 363.2 billion won order for a liquefied natural gas carrier from a Europe-based shipper.

In other news, Hyundai Motor Group and Korea Aerospace Industries (KRX:047810) signed a memorandum of understanding to develop advanced air mobility solutions.

Shares of Hyundai (KRX:005380) closed 5% higher, while those of Korea Aerospace edged up 2%.

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