South Korean stocks experienced a significant surge on Monday, propelled by robust performances in semiconductor sectors, even as geopolitical tensions in the Middle East and high oil prices loomed. The Korea Composite Stock Price Index (KOSPI) rose by 113.49 points, or 1.65%, concluding the trading session at 7,007.72, marking its third consecutive day of gains.
Investor confidence was particularly buoyed by the positive momentum in semiconductor and artificial intelligence stocks. Notably, Samsung Electronics saw its shares climb 4.98% to 274,000 won, while SK hynix enjoyed a modest increase of 0.59% to 1.87 million won. SK Square, the parent company of SK hynix, also posted a 4.45% rise.
Despite the surge in tech stocks, the broader market displayed mixed results. Hyundai Motor’s shares declined by 1.64%, and LG Energy Solution saw a more pronounced drop of 3.3%, reflecting the sector-specific nature of the day’s gains.
The Korean won also strengthened against the US dollar, closing at 1,381 won per dollar, an increase of 4.5 won from the previous session, which further reflects the positive sentiment in the South Korean financial markets.