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South Korean stocks gain 1% on semiconductor boost
South Korean stocks rose by nearly 1%, driven by gains in Samsung Electronics and SK Hynix shares after the release of their second-quarter earnings reports. The country also saw the launch of massive technological initiatives worth $950 billion in the artificial intelligence sector, aimed at strengthening the chip industry and supporting smart development. Investors are closely watching the results of major companies throughout the week. Market volatility has been fueled by these developments, while the U.S. dollar increased against the Korean won by 0.74%.
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