South Korean KOSPI nears 3-week high on chip rally
South Korea’s benchmark KOSPI rose nearly 4% to around 6,830, its highest level in almost three weeks, as chipmakers rallied and softer-than-expected US inflation supported risk appetite.
The benchmark KOSPI rose nearly 4% to around 6,830 on Thursday, extending gains to its highest level in almost three weeks, as major chipmakers rallied following an overnight rise in US technology stocks. Samsung Electronics climbed more than 4%, and SK hynix surged over 7%, as renewed optimism over AI-related demand lifted sentiment across the semiconductor sector. 7%). Additionally, a softer-than-expected US inflation reading reduced expectations for a September Federal Reserve rate hike, further supporting risk appetite and technology shares.
2 trillion in investment, provided an additional positive backdrop.