KT Shares Soar 1.29% on Data Center Win, Institutional Backing

KT's share price rose to its highest level since August 2011 today, with an intraday gain of 1.29%.

KT Cloud, a subsidiary of KT, has been selected as the operator for a new data center in Seoul, South Korea. This strategic move is expected to bolster KT's data center operations, potentially driving investor confidence and positively impacting the stock price.

Capital International Investors recently acquired a new position in KT during the fourth quarter, valued at approximately $135,833,000. This significant investment underscores the growing confidence among institutional investors in KT's future prospects, which could further support the stock's upward trajectory.