Korean Shares Climb on Chipmaker Gains

The benchmark KOSPI advanced 2.05% to around 6,208, marking a fresh record high as buying momentum intensified in large-cap chipmakers. The rally was driven by renewed global optimism following Nvidia Corp.’s stronger-than-expected earnings report. The company posted quarterly revenue of $68.13 billion, surpassing forecasts. Leading the surge in chipmaker stocks were Samsung Electronics (+6.14%) and SK Hynix (+3.05%), while gains in technology and automotive sectors also supported the index, with Hyundai Motor (+0.40%), Kia Corp (+1.66%), Naver (+3.75%), and Kakao (+4.70%). Further boosting investor confidence, the Bank of Korea held its key rate at 2.5% for the sixth straight meeting, citing strong growth and financial stability. Combined with robust corporate earnings, this stable monetary environment supported broad buying momentum in the market.

The benchmark KOSPI surged to a new all-time high of 6,083 on Monday, gaining 1.91% and extending gains for a fourth consecutive session, fueled by strong advances in technology stocks. Continued investor optimism surrounding artificial intelligence and record-setting semiconductor shares helped lift market sentiment. The benchmark briefly surpassed 6,000 at Wednesday’s open, just a month after reaching 5,000, and has risen 43% so far this year following a 76% surge last year, its strongest annual gain since 1999. Overseas markets provided additional support, with Wall Street finishing higher overnight. The Dow Jones Industrial Average rose 0.76%, while the Nasdaq Composite gained 1.04%. Within the local market, technology and automotive stocks led the rally, with notable increases in Samsung Electronics (+0.75%), SK Hynix (+0.80%), Hyundai Motor (+8.02%), and Kia Corp (+13.05%).

The benchmark KOSPI climbed 2.11% to close at 5,969 on Tuesday, extending gains to a record high as strong technology and pharmaceutical sector performance lifted sentiment. Notable contributions came from semiconductor stocks, Samsung Electronics (+0.47%) and SK Hynix (+0.63%), while pharmaceutical firms led sector gains, including Celltrion (+2.78%) and Samsung Biologics (+0.87%). Optimism was further supported by robust economic data, as South Korea’s business sentiment turned positive for March, with the business survey index at 102.7. Meanwhile, producer prices rose for a fifth consecutive month in January, with the PPI up 1.9% year-on-year. On the other hand, uncertainty increased after the US Supreme Court ruling on reciprocal tariffs, as the Trump administration quickly imposed a global 10% surcharge, which allows for levies of up to 15% for 150 days.