Korean tech blue chips rise

Tuesday, March 12, 2019

South Korean stocks traded higher today on hopes that China may enact fresh stimulus measures to shore up its tepid economy.

The benchmark Korea Composite Stock Price Index rose 17.44 points, or 0.82 percent, to 2,155.54 as of 11:20 a.m local time.

Shares started off on a high note on expectations that Beijing will implement more economic stimulus to prop up slowing economic growth.

Tech bluechips were in positive territory. Market bellwether Samsung Electronics advanced 1.72 percent, and major chipmaker SK hynix added 2.1 percent.

Top automaker Hyundai Motor climbed by 2.89 percent, while pharmaceutical giant Celltrion advanced by 1.46 percent.