South Korean Shares Rise on Tech Gains
The benchmark KOSPI climbed more than 2% to around 6,850 on Friday, recovering losses from the previous session, as a rebound in US technology stocks lifted regional equities. The Nasdaq advanced 1.7% overnight, with technology shares recovering after the Federal Reserve’s latest rate hike, while Brent crude fell to around $104 per barrel, easing concerns over inflation and borrowing costs. Additionally, strong demand for AI-related semiconductors continued to drive gains in major chipmakers, with Samsung Electronics and SK hynix advancing more than 2% and 4%, respectively. Also, reports that the US may delay announcing new tariffs related to excess industrial capacity until after next week’s Trump-Xi summit reduced an immediate trade risk for Korean exporters. Meanwhile, renewed pressure on the Bank of Korea to raise rates following the Federal Reserve’s latest hike remained a potential constraint on the broader recovery.
The benchmark KOSPI climbed more than 2% to around 6,850 on Friday, recovering losses from the previous session, as a rebound in US technology stocks lifted regional equities. 7% overnight, with technology shares recovering after the Federal Reserve’s latest rate hike, while Brent crude fell to around $104 per barrel, easing concerns over inflation and borrowing costs. Additionally, strong demand for AI-related semiconductors continued to drive gains in major chipmakers, with Samsung Electronics and SK hynix advancing more than 2% and 4%, respectively.
Also, reports that the US may delay announcing new tariffs related to excess industrial capacity until after next week’s Trump-Xi summit reduced an immediate trade risk for Korean exporters. Meanwhile, renewed pressure on the Bank of Korea to raise rates following the Federal Reserve’s latest hike remained a potential constraint on the broader recovery.