South Korean Shares End Higher on Tech Gains
The benchmark KOSPI rose 0.46% to close at 7,004 on Friday, extending gains from the previous session as bargain hunting lifted major technology stocks. Strong results from Micron and an upbeat memory outlook provided a positive read-through for Korean chipmakers. SK hynix edged up 0.44%, while other gainers included LG Energy Solution (2.91%), Hanwha Aerospace (3.68%), Samsung Electro-Mechanics (1.28%), and LG Electronics (2.13%). Additionally, September exports surged 83.5% year-on-year to a record $120.9 billion, led by a 263% jump in semiconductor shipments, reinforcing the sector’s strong outlook. Meanwhile, Brent crude remained above $100 a barrel amid renewed Middle East tensions. Korea’s CPI held at 2.9% in September, while the BOK warned inflation could remain around 3% in October, keeping another rate hike in focus. South Korean markets will be closed on Monday for a national holiday.
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46% to close at 7,004 on Friday, extending gains from the previous session as bargain hunting lifted major technology stocks. Strong results from Micron and an upbeat memory outlook provided a positive read-through for Korean chipmakers. 13%). 9 billion, led by a 263% jump in semiconductor shipments, reinforcing the sector’s strong outlook.
Meanwhile, Brent crude remained above $100 a barrel amid renewed Middle East tensions. 9% in September, while the BOK warned inflation could remain around 3% in October, keeping another rate hike in focus. South Korean markets will be closed on Monday for a national holiday.