Amid renewed tensions in the Middle East and volatile oil markets, South Korea’s stock market displayed resilience on Monday, driven by robust performance in the semiconductor sector. The Korea Composite Stock Price Index (KOSPI) surged by 113.49 points, or 1.65%, closing at 7,007.72. This marks the third consecutive session of gains for the index, as investor interest remains strong in technology and semiconductor stocks, particularly those related to artificial intelligence.
Leading the charge, Samsung Electronics saw its shares jump 4.98%, reaching 274,000 won. SK hynix, another major player in the semiconductor field, experienced a more modest increase of 0.59%, with its stock closing at 1.87 million won. SK Square, the parent company of SK hynix, also enjoyed a significant boost, with its shares climbing 4.45%.
However, the broader market presented a mixed picture. While semiconductor firms thrived, other sectors faced challenges. Hyundai Motor saw its shares fall by 1.64%, and LG Energy Solution experienced a 3.3% decline. These drops reflect ongoing uncertainty in the global markets, influenced by geopolitical tensions and fluctuating energy prices.
In the foreign exchange market, the South Korean won strengthened against the US dollar, closing at 1,381 won per dollar, an increase of 4.5 won from the previous session. This appreciation of the won further underscores the positive sentiment surrounding South Korea’s technology sector, despite the broader economic pressures exerted by international developments.
