South Korean Shares Rebound on Chip Rally
The benchmark KOSPI rose nearly 4% to around 5,770 on Wednesday, recovering losses from the previous session as semiconductor stocks rallied. Samsung Electronics and SK hynix climbed more than 4% and 5%, respectively. Additionally, South Korea’s exports surged 105.4% year-on-year to $61.6 billion in the first 20 days of October, the highest for the period, driven by a 222.5% jump in semiconductor shipments. Investors also awaited earnings from Meta and other major technology companies for clues on AI spending and returns amid concerns over infrastructure investment. Separately, Samsung Electronics reportedly secured long-term supply agreements covering around 80% of its planned 2027 memory output, suggesting sustained demand despite recent market volatility. Other notable gainers included SK Square (4.2%), SK Inc. (7.1%), LS Electric (3.0%), Doosan Corporation (4.4%), and Samsung C&T (4.2%).
The benchmark KOSPI rose nearly 4% to around 5,770 on Wednesday, recovering losses from the previous session as semiconductor stocks rallied. Samsung Electronics and SK hynix climbed more than 4% and 5%, respectively. Additionally, South Korea’s exports surged 105.4% year-on-year to $61.6 billion in the first 20 days of October, the highest for the period, driven by a 222.5% jump in semiconductor shipments. Investors also awaited earnings from Meta and other major technology companies for clues on AI spending and returns amid concerns over infrastructure investment.
Separately, Samsung Electronics reportedly secured long-term supply agreements covering around 80% of its planned 2027 memory output, suggesting sustained demand despite recent market volatility. Other notable gainers included SK Square (4.2%), SK Inc. (7.1%), LS Electric (3.0%), Doosan Corporation (4.4%), and Samsung C&T (4.2%).