KOSPI Jumps 2.66% as Chip Rally and Foreign Buying Lift Seoul Market
South Korea’s benchmark stock index closed at 6,894.23 as foreign investors returned to net buying and semiconductor shares rallied on optimism over artificial intelligence memory demand.
South Korean stocks climbed sharply on Friday as foreign investors returned to the market and optimism surrounding artificial intelligence-related memory chips lifted the country’s largest semiconductor companies.
The benchmark Korea Composite Stock Price Index rose 178.82 points, or 2.66 percent, to close at 6,894.23. The advance came as investors grew less concerned about inflation after a recent decline in oil prices, helping the market absorb the Federal Reserve’s first quarter-point interest-rate increase in more than three years.
Foreign investors bought a net 424.6 billion won worth of shares, reversing course after seven consecutive sessions of selling. Institutional investors were also strong buyers, with net purchases totaling 1.5 trillion won. Retail investors, by contrast, sold a net 3.59 trillion won.
The return of overseas capital added momentum to a rally led by major chipmakers. Samsung Electronics gained 3.37 percent to finish at 261,000 won, while SK hynix surged 6.42 percent to 1,857,000 won. Both companies benefited from expectations of stronger demand for memory products used in AI systems. Market sentiment was also supported by Nvidia Chief Executive Jensen Huang’s projection that the company’s chip sales volume next year would double from this year’s level.
The gains were not broad-based across all major companies. Battery producer LG Energy Solution slipped 0.27 percent to 364,000 won. KB Financial fell 2.4 percent to 174,900 won, while HD Hyundai Heavy Industries declined 2.02 percent to 460,000 won. Although declining stocks outnumbered advancing issues by 463 to 407, the strong performance of heavily weighted semiconductor shares drove the overall index higher.
Trading volume reached 321.35 million shares, with turnover totaling 25.56 trillion won. The figures reflected active positioning around large-cap technology companies rather than a uniform rise across the market.
The South Korean won also strengthened modestly. It was quoted at 1,383.3 won per US dollar at 3:30 p.m., gaining 1.1 won from the previous session. Government bond prices rose as well, pushing yields lower.
Friday’s market move highlighted the continued influence of the semiconductor sector on South Korean equities. It also showed how shifts in foreign investor flows and expectations for AI hardware demand can outweigh weakness in other industries, even when more individual stocks fall than rise.