FX.co ★ South Korean Shares Track Wall Street Higher

The KOSPI index saw an increase of 1.8%, reaching approximately 4,090 on Monday, as it recovered from substantial losses experienced in the previous week. This rebound mirrored the gains observed on Wall Street on Friday, primarily fueled by robust performances in leading tech and AI-related stocks. Such momentum encouraged renewed investment in Korean equities that are integral to the global AI supply chain. Notably, technology giants like Samsung Electronics saw a rise of 3.2%, while SK hynix experienced an impressive surge of 4.9%. Other significant gains were observed in LG Energy Solution (up 2.0%), Doosan Enerbility (up 2.5%), Hanwha Aerospace (up 1.6%), and SK Square (up 5.3%). Additionally, positive trade data provided further support, as South Korea's exports grew by 6.8% year-on-year in the first 20 days of December, marking a record for this timeframe. A remarkable 41.8% increase in semiconductor shipments boosted confidence in the sector's earnings outlook, further driving the broader market rally.