KOSPI climbs nearly 3% as semiconductors surge on AI optimism
South Korea’s KOSPI rose nearly 3% to around 6,885 for a third straight session, lifted by semiconductors. The PHLX semiconductor index gained 3.38% on expectations for OpenAI’s GPT-6 Astra model boosting memory-chip demand.
The benchmark KOSPI climbed nearly 3% to around 6,885 on Monday, extending gains for a third straight session as semiconductor stocks led the move. 38% on expectations that OpenAI’s new GPT-6 Astra model will increase demand for memory chips. Samsung Electronics and SK hynix advanced nearly 4% and more than 6%, respectively. 4%.
6% in January-August. The figures reinforced expectations for solid corporate earnings and economic growth. Heightened US-Iran tensions remained a risk. Stronger-than-expected US jobs data also lifted expectations for a September Fed rate hike and pushed Treasury yields higher.