South Korean Shares Climb on AI Optimism

2026-07-23 01:36 By Erika Ordonez 1 min. read

The benchmark KOSPI rose more than 3% to around 7,035 on Thursday, rallying for a third straight session as technology stocks advanced.

Investor sentiment was buoyed by renewed optimism over artificial intelligence after Alphabet reported better-than-expected quarterly revenue, driven by strong cloud growth, and raised its capital spending outlook to support booming AI demand.

The results reinforced expectations of sustained investment in AI infrastructure, boosting South Korean semiconductor shares.

Samsung Electronics and SK Hynix advanced more than 4% and 6%, respectively, alongside gains in SK Square (3.1%), Hyundai Motor (3.0%), and LG Energy Solution (3.0%).

Separately, South Korea's economy expanded 0.6% in the second quarter, beating the Bank of Korea's 0.2% forecast as robust semiconductor exports and resilient private consumption supported growth.

Meanwhile, Middle East tensions remained in focus after renewed US-Iran hostilities pushed oil prices higher.



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South Korean Shares Climb on AI Optimism
The benchmark KOSPI rose more than 3% to around 7,035 on Thursday, rallying for a third straight session as technology stocks advanced. Investor sentiment was buoyed by renewed optimism over artificial intelligence after Alphabet reported better-than-expected quarterly revenue, driven by strong cloud growth, and raised its capital spending outlook to support booming AI demand. The results reinforced expectations of sustained investment in AI infrastructure, boosting South Korean semiconductor shares. Samsung Electronics and SK Hynix advanced more than 4% and 6%, respectively, alongside gains in SK Square (3.1%), Hyundai Motor (3.0%), and LG Energy Solution (3.0%). Separately, South Korea's economy expanded 0.6% in the second quarter, beating the Bank of Korea's 0.2% forecast as robust semiconductor exports and resilient private consumption supported growth. Meanwhile, Middle East tensions remained in focus after renewed US-Iran hostilities pushed oil prices higher.
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The benchmark KOSPI climbed 3.56% to close at 6,748 on Tuesday, rebounding from an almost three-month low as bargain hunting emerged in beaten-down technology stocks following last week's sharp selloff. Samsung Electronics and SK Hynix led the recovery, advancing 6.76% and 4.93%, respectively. At the same time, South Korea's exports surged 52.3% in the first 20 days of July, fueled by a 180% jump in semiconductor shipments amid sustained AI demand, further boosting confidence in the sector's earnings outlook. Other notable gainers included SK Square (6.97%), KB Financial Group (3.02%), Kia Corporation (2.64%), Shinhan Financial Group (3.34%), Hanwha Aerospace (2.17%), Doosan Enerbility (2.93%), and SK Inc (3.28%). Lingering concerns over the conflict in the Middle East kept investors cautious, although reports of renewed mediation efforts between Iran and the US helped improve risk appetite and supported the market's rebound.
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