The benchmark KOSPI climbed 4.70% to move above the 5,900 level on Wednesday, extending its rally as renewed optimism over artificial intelligence demand and robust earnings from chipmaker SK hynix boosted investor sentiment. The advance followed overnight gains on Wall Street, where the Nasdaq Composite rose 1.18% and the Philadelphia Semiconductor Index jumped 3.6%.
SK hynix reported that third-quarter operating profit surged more than sevenfold to 8.33 trillion won, surpassing market expectations by over 7%, and announced an additional 6 trillion won in shareholder returns. Further support for the index came from major constituents, including Samsung Electronics (+5.74%), SK hynix (+3.32%), LG Energy Solution (+2.88%), Hyundai Motor (+2.93%), and KB Financial (+3.39%).
At the same time, investors remained cautious ahead of the US Federal Reserve’s interest rate decision due early Thursday, looking for guidance on the future trajectory of US monetary policy.
