The benchmark KOSPI inched up toward 7,050 on Wednesday, marking a fourth straight session of gains, as strength in AI-related and semiconductor stocks on Wall Street buoyed Korean chipmakers. The Nasdaq Composite finished at another record high, while Samsung Electronics and SK hynix advanced more than 2% and 1%, respectively. Additional gains were recorded in SK Square (4.1%), LG Energy Solution (1.1%), SK Inc. (2.0%), and SK Innovation (4.8%).
Sentiment was further supported by easing tensions in the Middle East after US and Iranian officials held a three-hour meeting, fueling hopes for diplomatic progress. Crude prices slipped about 1%, alleviating worries over energy costs and potential supply disruptions.
Meanwhile, the Asian Development Bank raised its 2026 growth forecast for South Korea to 3.2% from 2.6%, citing robust exports, solid corporate earnings, and expansionary fiscal policy. The ADB also cautioned that geopolitical risks, financial-market volatility, and the possibility of new US tariffs remain key downside risks.
