The benchmark KOSPI climbed more than 2% to around 7,150 on Tuesday, extending its advance to the highest level in a month, driven by strong gains in major chipmakers. Samsung Electronics rose nearly 3%, while SK hynix surged more than 7%, as sustained strength in the global semiconductor industry and optimism over AI-related demand bolstered technology shares. Other notable gainers included SK Square (7.4%), Samsung C&T Corp. (3.3%), LG Electronics (1.6%), SK Inc. (4.8%), and LS Electric Co. (5.1%).
However, overall global risk appetite remained constrained after the expiration of a 60-day US-Iran agreement without an extension, stoking fears of renewed conflict and potential disruptions to oil shipments through the Strait of Hormuz. This pushed oil prices higher and lifted US Treasury yields. At the same time, investors continued to track South Korea’s trade talks with the US, as Seoul sought to resolve outstanding issues tied to its planned US$200 billion investment commitment.
