Seoul shares closed higher for the third consecutive session, reaching over 2,800 points for the first time in about 2 1/2 years on Thursday, driven by gains in the tech sector and despite concerns about potential delays in US interest rate cuts. The Korean won depreciated against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) increased by 10.3 points, or 0.37 percent, closing at 2,807.63, surpassing the 2,800 level for the first time since Jan. 24, 2022. Trade volume was heavy with gainers outnumbering losers, and institutions and foreigners bought more stocks than individuals sold. US stock markets were closed for Juneteenth, and the Federal Reserve recently reduced its projections for rate cuts this year. In Seoul, large-cap stocks saw a mixed performance, with Samsung Electronics and SK hynix among the gainers. Notably, SK Innovation surged due to potential merger plans with SK E&S Co. Conversely, Hyundai Motor, Korean Air, and Posco Holdings were among the decliners. The local currency closed at 1,384.60 won against the US dollar, marking a decline from the previous session. The recent surge in Seoul shares was influenced by tech gains despite concerns about US interest rate cuts, and the Korean won experienced a decline against the US dollar. While US stock markets were closed for Juneteenth and the Federal Reserve adjusted its rate cut projections, Seoul's large-cap stocks showed a mixed performance. Notably, SK Innovation's possible merger plans with SK E&S Co. led to a significant surge in its stock price, while Hyundai Motor, Korean Air, and Posco Holdings were among the decliners. The local currency closed at 1,384.60 won against the US dollar.