South Korean Shares Hit Record High

The benchmark KOSPI jumped over 2% to around 6,350 on Tuesday, hitting a fresh record high as risk appetite improved on hopes for easing Middle East tensions and continued momentum in chipmakers. Investors remained focused on the approaching US-Iran ceasefire deadline, amid expectations for further talks, largely brushing off threats of renewed military action if negotiations fail. Further supporting the rally, South Korea’s exports surged 49.4% year-on-year in the first 20 days of April, driven by a sharp rebound in semiconductor shipments, which jumped over 180%, reinforcing optimism over the earnings outlook for the country’s key tech sector. Large-cap stocks led the advance, with Samsung Electronics (1.9%) and SK hynix (4.6%) rising strongly, while LG Energy Solution (9.4%), SK Square (3.1%), Doosan Enerbility (2.3%), and HD Hyundai Heavy Industries (2.3%) also posted notable gains. Foreign investors returned as net buyers, helping lift the index past its previous highs.

The benchmark KOSPI rose 0.44% to close at 6,219 on Monday, extending gains toward record highs, as technology stocks led the advance despite persistent geopolitical uncertainties. Semiconductor shares underpinned the index, with SK hynix (3.37%) climbing on optimism over its next-generation AI memory and record earnings prospects. LG Energy Solution (2.75%), SK Square (2.79%), Doosan Enerbility (2.40%), and HD Hyundai Heavy Industries (2.53%) added to the gains. Expectations of stronger foreign inflows, supported by Korea’s improving market accessibility, also lent support. However, investor sentiment remained cautious as escalating tensions between the US and Iran drove a sharp rise in oil prices, heightening concerns over inflation and input costs for South Korea’s energy-dependent economy. Renewed disruptions around the Strait of Hormuz also reinforced expectations of elevated market volatility in the near term.

The benchmark KOSPI fell 0.55% to close at 6,192 on Friday, snapping a three-day winning streak, as investors locked in gains after a recent rally while remaining cautious over Middle East developments. The index had climbed above the 6,200 level in the previous session for the first time since the onset of the US–Iran conflict, prompting profit-taking. Shares of Samsung Electronics (-0.34%) and SK hynix (-1.73%) declined, alongside SK Square (-1.45%), Hanwha Aerospace (-6.39%), and Doosan Enerbility (-2.17%). Sentiment was also tempered by lingering uncertainty despite signs of easing geopolitical tensions, after the US signaled progress in ceasefire talks involving Iran and a temporary truce between Israel and Lebanon. While the developments raised hopes of de-escalation, the lack of clarity over a lasting agreement kept risk appetite in check. At the same time, elevated energy prices and supply concerns continued to weigh on South Korea’s outlook as a major energy importer.