South Korean Shares Climb on AI Rally
The benchmark KOSPI climbed more than 1% to around 7,120 on Tuesday, extending gains for a third consecutive session as a rally in AI-related US stocks lifted Korean chipmakers. The Nasdaq Composite jumped 2.3% to a record high, while the US semiconductor sector advanced strongly, reinforcing optimism over AI demand. Samsung Electronics and SK hynix rose more than 2% and nearly 3%, respectively. Other notable performers included SK Square (2.9%), Samsung Electro-Mechanics (5.8%), Hyundai Motor (2.3%), LG Electronics (5.9%), Hyundai Mobis (2.3%), LS Electric Co (3.1%), and SK Inc (1.7%). Additionally, lower oil prices and US Treasury yields eased concerns over imported inflation and borrowing costs, adding to the broader gains. Meanwhile, investors remained focused on the upcoming US-China summit, where AI, tariffs and rare earths are expected to be discussed, with the outcome potentially affecting trade and technology supply chains.
The benchmark KOSPI climbed more than 1% to around 7,120 on Tuesday, extending gains for a third consecutive session as a rally in AI-related US stocks lifted Korean chipmakers. 3% to a record high, while the US semiconductor sector advanced strongly, reinforcing optimism over AI demand. Samsung Electronics and SK hynix rose more than 2% and nearly 3%, respectively. 7%).
Additionally, lower oil prices and US Treasury yields eased concerns over imported inflation and borrowing costs, adding to the broader gains. Meanwhile, investors remained focused on the upcoming US-China summit, where AI, tariffs and rare earths are expected to be discussed, with the outcome potentially affecting trade and technology supply chains.