South Korean Shares Hit 2-Week High

The benchmark KOSPI surged more than 3% to around 5,840 on Wednesday, its highest level in two weeks, driven by strong gains in technology stocks. Heavyweight semiconductor shares Samsung Electronics (5.6%) and SK hynix (4.0%) advanced sharply on renewed optimism over artificial intelligence demand following updates from Nvidia’s GTC conference, where Korean chipmakers were highlighted as key partners in next-generation AI systems. Other notable gainers included Hyundai Motor (3.8%), LG Energy Solution (1.6%), SK Square (5.8%), and Kia (3.8%). Meanwhile, investors remained cautious over Middle East tensions, as attacks on energy infrastructure heightened supply concerns. Oil price volatility remains a risk for South Korea’s import-dependent economy despite recent easing. The Korean won also strengthened as the dollar softened ahead of the Federal Reserve’s policy decision, with rates expected to hold, helping steady sentiment.

The benchmark KOSPI climbed 1.63% to close at 5,640 on Tuesday, extending gains for a second straight session, as easing oil prices lifted global risk appetite and supported energy-sensitive markets. Crude prices fell after efforts to stabilize tanker flows through the Strait of Hormuz, easing concerns over supply disruptions that had recently pressured inflation and the Korean won. The rally tracked strong gains on Wall Street, where major indexes advanced amid cooling energy prices and improving sentiment around the Middle East conflict, reinforcing a broader risk-on tone across global equities. Heavyweight Samsung Electronics rose 2.76% on continued optimism around artificial intelligence demand. Other major stocks also advanced, including Hyundai Motor (3.16%), LG Energy Solution (3.96%), SK Square (4.45%), Kia Corporation (3.27%), and Celltrion (3.00%).

The benchmark KOSPI rose 1.14% to close at 5,550 on Monday, reversing from a two-day decline as gains in major semiconductor stocks lifted the index after a volatile session. Technology heavyweights led the advance, with Samsung Electronics and SK hynix jumping 2.83% and 7.03%, respectively, supported by sustained optimism over demand for artificial intelligence-related memory chips. Gains were largely concentrated in the technology sector, while many other stocks lagged as investors remained cautious amid mounting geopolitical risks. Escalating tensions in the Middle East kept energy markets on edge, with Brent crude oil hovering around $105 per barrel amid concerns over potential disruptions to shipments through the strategically vital Strait of Hormuz. The South Korean won also came under pressure, briefly weakening past the 1,500-per-dollar level for the first time since 2009, highlighting worries about imported inflation in the energy-dependent economy.