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The Seoul Stock Exchange rebounds and rises 1.44% after the fall in crude oil

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Seoul, March 16 (EFE).- The Seoul Stock Exchange closed higher today and its benchmark index, the Kospi, gained 1.44% after bouncing after three sessions down thanks to the drop in crude oil prices .

The South Korean benchmark advanced 37.7 points to 2,659.23 points, while the Kosdaq technology index gained 20.58 points, or 2.36%, to 891.8 points.

The Kospi put an end to its negative streak today by opening higher after the very good closing on Tuesday on Wall Street, where the Dow Jones Industrials rose 1.18% and the Nasdaq technology rose 2.92%, a result of the strong oil drop.

With institutional investors as the main buyers, the selective ended up completing a good day, although part of the South Korean stock market still awaits the end, today, of the two-day meeting of the US Fed in search of clues about the future pace of monetary tightening.

Seoul’s largest-cap tech giant Samsung Electronics rose 1.29%, while the world’s second-largest memory chipmaker SK Hynix gained 3.56%.

Naver, the corporation that controls the most used search engine in South Korea, for its part improved 0.92%, and cocoa, the operator of the most popular instant messaging application nationwide, advanced 0.97%. .

In the biopharmaceutical sector, Samsung Biologics is valued at 1.85%, and its domestic rival Celltrion closed and together 0.56%.

In turn, the largest South Korean car manufacturer, Hyundai Motor, rose by 3.07%.

c) EFE Agency

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