FX.co ★ KOSPI Rises for 5th Day on Chip Boost

On Friday, the benchmark KOSPI index edged upward by 0.2%, reaching approximately 2,642 points. This marked the fifth consecutive session of gains and positioned the index for a third weekly advance, driven by a rally in chip stocks. This uptick in semiconductor shares was fueled by a robust performance in sector exports, which helped counterbalance setbacks in the battery and steel industries. Early trade figures indicated that semiconductor exports surged by 8.2% year-over-year in the first 20 days of March, contributing to an overall export growth of 4.5%. Key market players Samsung Electronics and SK Hynix saw increases of 1.7% and 3.6%, respectively. Conversely, in the battery sector, LG Energy Solutions fell by 2.4%, while Samsung SDI declined by 2.7%. The steel industry saw notable losses, with Posco Holdings dropping 3.2%, Korea Zinc dipping 1.4%, and Hyundai Steel falling 2.1%. Additionally, Hanwha Aerospace, a defense sector firm, plummeted by 15.2%, marking its most significant decline since March 2020, after revealing plans for a capital increase.