South Korea’s August stock-market rally broadened beyond semiconductor leaders, with the KOSPI rising 3.73% through Aug. 28 while construction, machinery, metals, chemicals, services and telecommunications posted double-digit gains. The construction index climbed 30.32% through Aug. 27, led by Kumho Engineering & Construction, Xi S&D, GS Engineering & Construction, Daewoo Engineering & Construction and HanmiGlobal. Samsung Electronics and SK hynix fell 0.95% and 0.70%, respectively, from Aug. 3 to 27. Small- and mid-cap shares outperformed large caps, while foreign investors sold a combined 4.814 trillion won of the two chipmakers and bought Samsung SDI, LG Energy Solution, NAVER, Doosan Enerbility, Korea Zinc and construction stocks. Analysts described the move as market broadening and sector rotation rather than an end to semiconductor leadership, citing expectations for earnings improvement and policy-supported infrastructure demand. Earlier reconstruction, data-center, semiconductor-complex, nuclear-power and healthcare themes also supported the rotation, although analysts warned that margin debt remained concentrated in the two semiconductor leaders.