South Korean stocks rise for the third consecutive day as Alphabet earnings boost memory chip stocks

Glonghui, July 23 | South Korea's benchmark Kospi index rose as much as 3.6%, marking its third consecutive trading day of gains. Alphabet's plan to increase capital expenditure boosted the share prices of memory chipmakers SK Hynix and Samsung Electronics. Samsung Electronics rose 4.8%, while SK Hynix gained 5.7%. South Korea's small-cap Kosdaq index climbed as much as 3.4%. The recent wave of foreign selling has eased, and overseas investors have resumed net buying of South Korean Kospi index stocks. On Wednesday, foreigners' net buying of South Korean stocks climbed to the highest level since early May.