South Korean stocks saw significant gains driven by a semiconductor rally, with Micron Technology’s strong earnings easing concerns about AI growth. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 4.89 percent, adding 414.55 points to reach 8,885.57. Wall Street closed mixed due to worries about overvalued AI-related shares, but Micron’s impressive quarterly earnings reversed the trend.
Blue chip shares in Seoul led the market surge, with Samsung Electronics climbing 4.77 percent and SK hynix soaring 9.61 percent. Hanmi Semiconductor and LG Electronics also saw gains. Financial stocks performed well, with KB Financial Group and Samsung Life Insurance registering increases.
The Korean won was trading at 1,547.25 won against the U.S. dollar. The number of stock trading accounts in South Korea hit a record high, reaching 108.7 million, driven by a bull run led by major chipmakers. Retail investors have been buying local heavyweight stocks like Samsung Electronics Co. and SK hynix Inc., contributing to the surge in trading accounts.
The KOSPI surpassed 9,000 points for the first time this month, fueled by a technology rally spurred by AI optimism.
