South Korean Shares Sustain Momentum

2026-01-23 02:13 By Erika Ordonez 1 min. read

The benchmark KOSPI rose 0.76% to close at 4,990 on Friday, building on recent gains as semiconductor stocks led the advance.

SK Hynix increased 1.59%, as sustained optimism around the AI-driven memory upcycle continued to support large-cap chipmakers amid expectations of tight supply conditions and improving earnings visibility.

The index was further supported by a global risk-on environment, tracking gains in US tech stocks overnight, after easing geopolitical tensions and a softer tone on US trade policy lifted investor confidence.

Regional sentiment was also underpinned after the Bank of Japan left interest rates unchanged, helping stabilize Asian risk appetite.

Other notable performers included HD Hyundai Heavy Industries (2.28%), Doosan Enerbility (3.67%), and Samsung C&T (2.69%).

Momentum was also reinforced by milestone-driven buying, as the KOSPI’s recent breakthrough above the 5,000 level helped fuel follow-through demand, despite selective profit-taking in non-chip sectors.



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