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South Korean Shares Open at New High as Tech, Auto Stocks Track US Rally

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South Korean shares opened higher on Thursday, owing to gains made by technology and automotive stocks and an overnight rally on Wall Street.

The benchmark Korea Composite Stock Price Index, or Kospi, added 0.4%, or 29.9 points, to open at 7,873.91. The Kosdaq also increased by 10.09 points to open at 1,187.02.

Major market movers, chipmaker Samsung Electronics (KRX:005930) and automaker Hyundai Motor (KRX:005380) added nearly 4% and 3%, respectively, in Thursday morning trade.

The tech-laden Nasdaq Composite added 1.2% on Wednesday, and the S&P 500 added 0.58%, while the Dow Jones Industrial Average shed 0.14%. Losses in telecommunications, utilities, and financials sectors dragged stocks lower.

Investors kept a close eye on US-China talks this week, as US President Donald Trump arrived in Beijing on Wednesday for a state visit, marking his second in-person meeting with Xi Jinping since October 2025 and the first visit to China by a US president in nine years.

Trump is expected to seek China's support in pressuring Iran to advance peace negotiations and reopen the Strait of Hormuz to shipping traffic, according to a Guardian report.

However, earlier this week, the US imposed sanctions on several Chinese firms accused of supporting Iranian oil shipments and offering satellite imagery allegedly used in Iranian military operations. Beijing has denied these allegations. Trump's visit also follows Iranian Foreign Minister Abbas Araghchi's trip to Beijing last week.

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