South Korean Shares Rebound on Record Exports
The benchmark KOSPI rose nearly 1% to around 5,780 on Monday, recovering losses from the previous session as record export figures highlighted strong underlying demand for South Korean semiconductors. Exports surged 93.7% year-on-year to a record $115.3 billion in October, led by a 259% jump in semiconductor shipments to $56.4 billion, reinforcing the strength of the country's export-driven technology sector. SK Square gained nearly 1%, with increases also seen in Hyundai Motor (1.1%), Hanwha Aerospace (3.7%), Hyundai Mobis (4.8%), HD Hyundai Heavy Industries (6.4%), LG Electronics (1.6%) and LS Electric (4.7%). Meanwhile, concerns over the sustainability of AI investments continued to weigh on global technology stocks following disappointing earnings from major US tech companies and lower-than-expected capital expenditure forecasts. Elevated oil prices amid Middle East tensions also remain a risk to corporate costs and the broader economic outlook.
The benchmark KOSPI rose nearly 1% to around 5,780 on Monday, recovering losses from the previous session as record export figures highlighted strong underlying demand for South Korean semiconductors. Exports surged 93.7% year-on-year to a record $115.3 billion in October, led by a 259% jump in semiconductor shipments to $56.4 billion, reinforcing the strength of the country's export-driven technology sector. SK Square gained nearly 1%, with increases also seen in Hyundai Motor (1.1%), Hanwha Aerospace (3.7%), Hyundai Mobis (4.8%), HD Hyundai Heavy Industries (6.4%), LG Electronics (1.6%) and LS Electric (4.7%).
Meanwhile, concerns over the sustainability of AI investments continued to weigh on global technology stocks following disappointing earnings from major US tech companies and lower-than-expected capital expenditure forecasts. Elevated oil prices amid Middle East tensions also remain a risk to corporate costs and the broader economic outlook.