South Korea Shares Rebound on AI Optimism
South Korea’s benchmark KOSPI climbed 4.06% to above 5,690 on Tuesday, rebounding after falling in the previous session, as renewed optimism over artificial intelligence, gains on Wall Street, and easing oil prices lifted investor sentiment. AI-related stocks rallied after startup Anthropic disclosed strong revenue growth in its US IPO filing, boosting enthusiasm ahead of major technology earnings. Samsung Electronics rose 5.05%, SK Hynix gained 6.82%, SK Square surged 10.92%, and LG Energy Solution advanced 1.87%. Meanwhile, hopes of easing Middle East tensions following reported mediation efforts by Qatar helped ease concerns over oil supply. Sentiment was further supported by stronger-than-expected economic growth, with South Korea’s GDP expanding 1% quarter-on-quarter in the third quarter, exceeding forecasts of 0.8%, as the semiconductor boom boosted exports and investment. Investors also looked ahead to the Federal Reserve’s interest rate decision.
South Korea’s benchmark KOSPI climbed 4.06% to above 5,690 on Tuesday, rebounding after falling in the previous session, as renewed optimism over artificial intelligence, gains on Wall Street, and easing oil prices lifted investor sentiment. AI-related stocks rallied after startup Anthropic disclosed strong revenue growth in its US IPO filing, boosting enthusiasm ahead of major technology earnings. Samsung Electronics rose 5.05%, SK Hynix gained 6.82%, SK Square surged 10.92%, and LG Energy Solution advanced 1.87%. Meanwhile, hopes of easing Middle East tensions following reported mediation efforts by Qatar helped ease concerns over oil supply.
Sentiment was further supported by stronger-than-expected economic growth, with South Korea’s GDP expanding 1% quarter-on-quarter in the third quarter, exceeding forecasts of 0.8%, as the semiconductor boom boosted exports and investment. Investors also looked ahead to the Federal Reserve’s interest rate decision.