FX.co ★ South Korean Shares Hit Record High After Samsung Earnings

On Tuesday, the KOSPI index rose by 1.0% to approximately 3,620, setting a new record. This surge was largely bolstered by significant gains in technology stocks and reduced trade tensions. Investor confidence was bolstered by Samsung Electronics' announcement of an expected operating profit of KRW 12.1 trillion for the third quarter—the highest in over three years and surpassing market forecasts. This profit surge was fueled by increased demand for AI-related memory chips, which invigorated hopes for a continued recovery in the semiconductor market. Consequently, Samsung shares reached an all-time high, positively impacting the broader technology sector. Notably, SK Hynix advanced by 2.7% and LG Energy Solution increased by 5.6%. Globally, the KOSPI also benefited from the tech rally on Wall Street, following US President Donald Trump's more conciliatory remarks towards China, which assuaged fears of escalating tariffs.