South Korean Shares Snap 3-Day Decline

The benchmark KOSPI rose 1.95% to close at 6,971 on Thursday, snapping a three-day slide as gains in semiconductor-related stocks helped lift the index. Micron Technology’s stronger-than-expected results and upbeat revenue guidance highlighted continued demand for AI memory chips, while its increased long-term supply commitments reinforced the positive outlook for the sector. Additionally, South Korea’s September exports surged 83.5% year-on-year to a record $120.9 billion, led by semiconductor exports that jumped 263% to a record $60.3 billion, further underscoring robust chip demand. Samsung Electronics and SK hynix climbed 2.61% and 3.10%, respectively, along with gains in SK Square (1.32%), Hanwha Aerospace (2.78%), LG Energy Solution (0.98%), and Samsung Electro-Mechanics (2.95%). Meanwhile, elevated US Treasury yields remained an offset, with the 10-year yield above 5.3%, while foreign investors continued to sell Korean equities.