South Korean stocks surged on Monday, driven by robust gains in semiconductor shares. The Korea Composite Stock Price Index (KOSPI) rose by 113.49 points, or 1.65%, closing at 7,007.72 and marking its third consecutive day of gains.
Investors showed strong interest in artificial intelligence and semiconductor stocks, contributing to the positive sentiment in the market. Notably, Samsung Electronics saw a significant increase of 4.98%, reaching 274,000 won, while SK hynix experienced a more modest rise of 0.59% to 1.87 million won. SK Square, the parent company of SK hynix, also climbed 4.45%.
Despite the overall market rally, some sectors experienced declines. Hyundai Motor’s shares fell by 1.64%, and LG Energy Solution saw a decrease of 3.3%, reflecting a mixed performance across different sectors.
In the currency market, the Korean won appreciated against the US dollar, closing at 1,381 won per dollar, an increase of 4.5 won from the previous session. This currency strengthening coincided with the stock market’s positive movement, though concerns lingered over Middle East tensions and rising oil prices.