South Korea's Composite Stock Price Index closed up 4.4%, rising for three consecutive trading days
South Korea's Composite Stock Price Index rose for three consecutive trading days; chip and automobile stocks rose. Korea's Composite Stock Price Index (Kospi) closed up 4.4% at 7,096.89 points. South Korean stocks rose for a third straight session on Thursday as a chip export boom boosted economic growth beyond expectations and U.S. technology companies unveiled massive spending plans; the won strengthened against the dollar. The index has risen 9% in the past three trading days, but has still fallen 20% since hitting a record closing high on June 22. The preliminary estimate released by the Bank of Korea on Thursday showed that South Korea's second-quarter gross domestic product (GDP) increased by 0.6% from the previous quarter after seasonally adjustment, which was higher than the median survey forecast of 0.4%.