KOSPI regains 7,000 as late rebound erases early losses

  • The KOSPI rose 0.46% to close at 7,003.74 after recovering from an early decline.
  • South Korea’s September exports climbed 83.5% to a record $120.9 billion.
  • Semiconductor shipments increased 263% from a year earlier in September.

South Korea’s KOSPI recovered from an early decline to close above 7,000 for the first time in five trading sessions, supported by gains in semiconductor shares after strong Micron results and an upbeat memory-market outlook. The index rose 32.39 points, or 0.46%, to 7,003.74, or roughly 7,004, after opening at 6,938.27. SK hynix gained 0.44%, while LG Energy Solution, Hanwha Aerospace, Samsung Electro-Mechanics and LG Electronics also advanced. September exports rose 83.5% from a year earlier to a record $120.9 billion, led by a 263% increase in semiconductor shipments. Brent crude remained above $100 a barrel amid renewed Middle East tensions, while Korea’s consumer-price inflation held at 2.9% in September. The Bank of Korea said inflation could remain near 3% in October, keeping another rate increase in focus. South Korean markets will be closed Monday for a national holiday.

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