The benchmark KOSPI climbed 0.5% to around 6,890 on Friday, extending the previous session’s advance, as solid gains in major chipmakers and strong semiconductor exports bolstered investor sentiment. Samsung Electronics and SK hynix rose roughly 1% and 4%, respectively, supported by sustained expectations of shareholder-friendly capital returns. Further momentum came from robust semiconductor exports, with chip shipments nearly tripling to $26 billion in the first 20 days of August, reinforcing the view that AI-driven demand will continue to underpin South Korea’s core technology sector. Additional gains were seen in KB Financial Group (2.0%), Shinhan Financial Group (3.0%), and SK Inc. (2.3%).
Upside was capped, however, by renewed increases in US Treasury yields, as investors grew doubtful that the Treasury’s expanded bond buyback program would deliver lasting relief from elevated borrowing costs. At the same time, Brent crude rose more than 2% amid escalating US-Iran tensions, stoking concerns about inflation and higher energy prices.
