FX.co ★ South Korea Shares Hit Over 3-Year High

The KOSPI index advanced approximately 1% on Wednesday, exceeding the 2,880 mark, thereby registering its sixth consecutive rise and reaching its highest point since January 2022. This upward movement was predominantly driven by significant gains in semiconductor and automotive stocks. Investor confidence was bolstered by President Lee Jae-myung’s proposed economic reforms and stimulus measures, which played a crucial role in this increase. Additional optimism stemmed from encouraging developments in the trade negotiations between the United States and China, along with a brighter outlook for South Korean exports, particularly in the semiconductor sector. The strong buying activity from foreign investors further reinforced the market's positive trajectory. Standout performers included SK Hynix with a rise of 3.8%, Samsung Electronics and LG Energy Solution, both gaining 0.9%, and Hyundai Motor, which saw an increase of 1.5%. Conversely, shares in Hanwha Aerospace and KB Financial Group declined by 2.2%, while HD Hyundai Heavy Industries experienced a slight drop of 0.9%.