South Korean stocks surged on Monday, driven by strong performances in the semiconductor sector, despite lingering concerns over Middle East tensions and rising oil prices. The Korea Composite Stock Price Index (KOSPI) advanced 113.49 points, or 1.65%, closing at 7,007.72, marking a three-session winning streak.
Investor enthusiasm was particularly notable in the semiconductor and artificial intelligence sectors, with Samsung Electronics leading the charge with a significant 4.98% rise to 274,000 won. SK hynix, another major player in the semiconductor industry, also saw its shares edge up by 0.59% to 1.87 million won, while its parent company, SK Square, climbed 4.45%.
However, the broader market presented a mixed picture. Hyundai Motor experienced a decline of 1.64%, and LG Energy Solution’s shares fell by 3.3%, reflecting a varied response across different sectors.
Meanwhile, the Korean won strengthened against the US dollar, closing at 1,381 won per dollar, an increase of 4.5 won from the previous trading session. This movement in currency values accompanies the stock market’s positive performance, offering a more complex picture of the financial landscape in South Korea.