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South Korea: Stocks rise; Samsung, SK Hynix climb on hopes of chip output cuts
[SEOUL] South Korean shares rose on Wednesday, led by gains in Samsung Electronics and SK Hynix on a report that the two companies planned to cut production of NAND chips amid a supply glut and Japan curbs.
The Seoul stock market's main KOSPI closed 6.75 points, or 0.33 per cent, higher at 2,058.78.
Shares of Samsung Electronics and SK Hynix closed up 1 per cent and 4.44 per cent, respectively.
The KOSPI has risen 0.87 per cent so far this year, and gained 0.4 per cent in the previous 30 trading sessions.
Trading volume during the session on the KOSPI index was 350.02 million shares and, of the total traded issues of 895, the number of advancing shares was 537.