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Technological and steel mills have risen to Seoul and 0.92%

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Seoul, March 23 (EFE).- The Seoul Stock Exchange closed higher today and its benchmark index, the Kospi, gained 0.92% thanks to advances in major technologies and also in local steel manufacturers.

The South Korean benchmark advanced 25.05 points to 2,735.05 points, while the Kosdaq technology index gained 5.9 points, or 0.64%, to 930.57 points.

Institutional investors were once again the main buyers, taking a net worth about 233.07 billion won (about 191 million dollars) today.

In addition to the good momentum provided by the day on Wall Street on Tuesday, the advance of South Korean steelmakers, benefiting from the effects that the war in Ukraine is having on their European competitors, was key.

In this sense, Posco, the main company in the sector in South Korea, appreciated by 4.61%, while its competitors Hyundai Steel and Dongkuk Steel improved their prices by 6.72% and 4.93%.

The value of more money than the picker, tech giant Samsung Electronics, rose 0.28%, while the world’s second-largest memory chipmaker SK Hynix ended the session unchanged.

Naver, owner of the most used search engine in the Asian country, gained 1.77%, and cocoa, operator of the number one instant messaging application nationwide, also closed in tables.

In the biopharmaceutical sector, Samsung Biologics fell 0.12%, and its national rival Celltrion advanced 0.89% after yesterday’s bump following information about the sale of securities by the Singaporean fund Temasek, one of its main shareholders.

For its part, the largest vehicle manufacturer in the core, Hyundai Motor, has already climbed 1.44%.

c) EFE Agency

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