The benchmark KOSPI rose 0.5% to around 6,840 on Tuesday, rebounding after hitting a more than two-month low in the previous session as investors stepped in to bargain-hunt following a sharp selloff in AI-related chipmakers. Heavyweight technology stocks led the recovery, with Samsung Electronics and SK Hynix gaining 5.5% and 4.1%, respectively, after slumping nearly 11% and a record 15% in the prior session. Other notable advancers included SK Square (2.2%), LS Electric (2.8%), and Hyosung Heavy Industries (1.1%).
Upside momentum, however, was capped as markets remained cautious over escalating tensions in the Middle East after the US reinstated a blockade of Iranian ports and President Donald Trump announced a 20% charge on cargo transiting the Strait of Hormuz. Those developments pushed oil prices higher and dampened global risk appetite. Investors also stayed focused on upcoming earnings from major chipmakers and large US technology firms for fresh indications on AI-related demand and capital spending plans.
