Business briefs: South Korean economy

South Korea got a triple dose of good news Wednesday: a robust economic growth report, a hike in its credit rating and a surge that carried its stock market to an all-time high. The Bank of Korea announced its gross domestic product expanded 4.9 percent in the second quarter, its fastest rate in a year, fueled by strong output of semiconductors, ships and automobiles.

AMAZON

Shares of Amazon.com Inc. (AMZN) soared 26 percent Wednesday, a day after the Web retailer reported its second-quarter profit more than tripled on strong sales of books, music and electronics. Amazon reported its quarterly earnings climbed to $78 million, or 19 cents per share, from $22 million, or 5 cents per share during the same period last year.