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South Korean Shares Close Above 8,800 Points on Gains in AI-Led Tech Shares; Samsung Adds Over 3%

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South Korean stocks closed above the 8,800-point threshold for the first time on Tuesday, with gains in AI-driven technology shares, led by Samsung Electronics (KRX:005930), which added 3.3% at market close.

The Korea Composite Stock Price Index or Kospi rose 13.11 points, or 0.2%, to end at 8,801.49. The Kosdaq decreased by 24 points, or 2.3%, to close at 1,026.03.

In economic news, South Korea's corporate financing through debt and equity issuance rose by 13% to 22.616 trillion won from a month earlier, according to data released by the Financial Supervisory Service on Tuesday.

Equity issues fell 6% from 440.2 billion won to 413.6 billion won, while debt issues grew 13.6% to 22.202 trillion won in April, from 19.543 trillion won in the previous month.

In corporate news, Samsung Heavy Industries (KRX:010140) will build an offshore production facility for an undisclosed North American client, according to a Tuesday filing with the Korean Exchange.

The contract is worth 4.33 trillion won, and the facility is expected to be completed by July 10, 2030.

Shares of Samsung Heavy Industries rose nearly 1% at market close.

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