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Finance

KOSPI reclaims 7,000 on institutional buying; Samsung Electronics jumps 5 percent

South Korea\'s benchmark KOSPI closed above the 7,000 mark on Sept. 21, lifted by net buying from institutions and gains in semiconductor heavyweights. Samsung Electronics rose nearly 5 percent, while SK Hynix also advanced. The Kosdaq ended higher. The won strengthened against the dollar. The report also cited firmer U.S. chip stocks on expectations of rising memory prices and flagged possible short-term volatility ahead of the Chuseok holiday.

Industry

Australia\'s first eight-hour grid battery begins operations using 144 Tesla Megapacks

Australia has begun commercial operations of its first grid battery capable of discharging for 8 hours, aimed at storing surplus solar power during the day and supplying it from evening into the night. The Limondale battery energy storage system in New South Wales, developed by Germany\'s RWE, uses 144 Tesla Megapacks and is rated at 50 MW and 400 MWh. It charges at about 100 MW and discharges at 50 MW.

Industry

Sunwoda unveils ultra-fast EV battery charging from 10 percent to 97 percent in 9 minutes

Chinese battery maker Sunwoda unveiled an ultra-fast charging technology that it said can charge an electric vehicle battery from 10 percent to 97 percent in 9 minutes. It presented its 15C battery technology at a battery industry conference in Zaozhuang, Shandong. Sunwoda said a 1-minute charge at room temperature adds about 100 km of range, and the battery maintains charging performance at minus 20C. The company also cited a 10-year or 300,000-km warranty.