KOSPI closes 2.66% higher at 6,894.23 as semiconductor shares rally

  • KOSPI climbed 2.66% to 6,894.23 as Samsung Electronics and SK hynix led a semiconductor rally.
  • SK hynix gained 6.42% and Samsung Electronics rose 3.37%, while Nvidia's sales outlook strengthened AI-memory demand expectations.
  • Foreign investors bought a net 419.4 billion won on September 18 but sold more than 6 trillion won of the two chipmakers over September 14-18.

South Korea's KOSPI rose 2.66% to close at 6,894.23 on September 18, briefly topping 6,900 as SK hynix gained 6.42% and Samsung Electronics rose 3.37%. Nvidia CEO Jensen Huang said he expects the company's chip sales volume next year to double from this year's level, reinforcing expectations for AI-driven memory demand amid reported semiconductor-equipment shortages. Foreign investors bought a net 419.4 billion won of KOSPI shares that day after eight sessions of selling, although they had sold more than 6 trillion won of Samsung Electronics and SK hynix shares over the five sessions from September 14 to 18 and shifted some capital into fiber-optics, power-grid and equipment stocks. The rally also drew support from lower U.S. Treasury yields, a pause in oil prices and stronger U.S. chip shares.

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