South Korean stocks experienced a notable rise on Monday, fueled by a surge in semiconductor shares that outweighed concerns about escalating tensions in the Middle East and rising oil prices. The Korea Composite Stock Price Index (KOSPI) increased by 113.49 points, marking a 1.65% gain and closing at 7,007.72. This advance extended the index’s winning streak to three consecutive sessions.
Investor enthusiasm was particularly strong in sectors related to artificial intelligence and semiconductors. Samsung Electronics saw a significant boost, climbing 4.98% to reach 274,000 won. Similarly, SK hynix, another major player in the semiconductor market, experienced a modest increase of 0.59%, closing at 1.87 million won. SK Square, the parent company of SK hynix, also benefited from the positive sentiment, advancing by 4.45%.
The broader market presented a mixed picture. While semiconductor stocks thrived, other sectors faced challenges. Hyundai Motor saw its shares decrease by 1.64%, and LG Energy Solution dropped by 3.3%, reflecting varied investor perspectives across different industries.
On the currency front, the Korean won strengthened against the US dollar, ending the session at 1,381 won per dollar, an increase of 4.5 won compared to the previous trading day. This appreciation of the won adds a positive note amid the complex global economic landscape.