FX.co ★ South Korean Shares Rise on Wall Street Strength

The KOSPI index gained 0.8% on Friday, reaching approximately 4,139, as it rebounded from the previous session's losses. This turnaround was fueled by positive investor sentiment following record-high performances on Wall Street, where technology and AI stocks continued to spearhead the market rally. The impact of limited trading in the region heightened the effect of US market trends, establishing a favorable environment for Korean stocks. The index was bolstered by sustained confidence in the semiconductor market's growth cycle, with major chip manufacturers benefiting from ongoing enthusiasm for AI-driven demand, especially for advanced memory and high-performance chips. Notably, Samsung Electronics saw a 2.9% increase, while SK Hynix rose by 1.2%. There were also notable gains in SK Square and Hanwha Ocean, which surged by 4.4% and 1.1% respectively. Furthermore, reduced anxieties regarding foreign-exchange volatility contributed additional support, aiding in stabilizing sentiment following recent fluctuations in the Korean won.