KOSPI jumps 1.95% as institutions buy South Korean chip stocks

  • KOSPI gained as institutional investors bought major South Korean semiconductor shares.
  • KOSPI rose 133.31 points, or 1.95%, to close at 6,917.35.
  • South Korean exports reached a record $120.9 billion in September, driven by chip shipments.

South Korean shares rose nearly 2% on Thursday, with the KOSPI gaining 133.31 points, or 1.95%, to close at 6,917.35 and end a three-session losing streak. Institutional buying of major semiconductor shares helped the market recover from an opening decline driven by elevated U.S. Treasury yields and other negative factors. South Korea's exports surged 83.5% year on year to a record $120.9 billion in September, led by stronger chip shipments. Samsung Electronics rose 2.79% to 276,000 won, while SK hynix gained 3.21% to 1.83 million won. The won weakened to 1,358.4 per U.S. dollar, while South Korean government bond prices rose as yields eased.

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