Kospi climbs 2.94% as AI chip demand lifts Samsung and SK Hynix
South Korean stocks surged Monday, driven by strong semiconductor gains that outpaced a weak US session ahead of the next trading day.
South Korean shares gained nearly 3 percent on Monday as optimism over artificial intelligence investment supported major chipmakers. The benchmark Kospi index added 2.94 percent to close at 6,883.78 points. Samsung Electronics advanced 3.72 percent while SK Hynix jumped 6.01 percent, fueling the rally.
The South Korean won strengthened against the US dollar to reach its highest level in almost two years. Export performance remains a key driver; exports for the first part of the year have already exceeded the previous full-year record.
Samsung BioLogics increased 0.14 percent, LG Energy Solution rose 0.14 percent, and Hyundai Motor gained 1.69 percent. In contrast, POSCO Holdings declined 1.19 percent. Market breadth showed relative balance with 438 of the 909 traded securities finishing higher.
The move occurred despite a weaker finish on US markets Friday when expectations for a Federal Reserve interest rate hike increased. However, the Philadelphia Semiconductor Index rose 3.4 percent earlier that day.
