Seoul Shares Rebound Nearly 3% as Chip Stocks Lead Early Gains

South Korean shares rebounded sharply in early trading Wednesday, with major chipmakers leading gains as investors returned to technology stocks ahead of a new round of earnings from large U.S. companies.

The benchmark Korea Composite Stock Price Index opened 2.05 percent higher and extended its advance to 2.86 percent by 9:15 a.m. The index stood at 5,711.62, up 158.88 points, after falling nearly 4 percent in the previous session.

The recovery was concentrated in technology shares. Samsung Electronics, South Korea’s largest listed company, gained 4.14 percent, while memory-chip rival SK hynix climbed 5.89 percent. The advances made the two semiconductor companies key drivers of the broader market’s early rebound.

Investors were assessing the outlook for spending on artificial intelligence infrastructure and the ability of major technology companies to turn that investment into profits. Attention was also shifting toward upcoming earnings reports from Meta Platforms and other U.S. technology groups, which could offer new signals on the scale and returns of AI-related expenditure.

Wall Street had delivered a mixed lead overnight. The Dow Jones Industrial Average rose 1.02 percent, while the technology-heavy Nasdaq Composite slipped 0.02 percent. Strong results from some technology companies nevertheless helped revive demand for the sector in Seoul.

Other large Korean stocks posted more modest gains. POSCO Holdings rose 0.83 percent and HD Hyundai Heavy Industries added 0.16 percent. The market’s advance was not universal, however. LIG Defense & Aerospace fell 11.86 percent, while refiner S-Oil declined 0.69 percent.

The Korean won traded at 1,325.15 against the U.S. dollar at 9:15 a.m., strengthening by 0.85 won from the previous stock-market close.

The early rise marked a rapid reversal after the preceding session’s selloff, but the focus on U.S. technology earnings left the market exposed to further shifts in global sentiment. For Korean investors, the performance of Samsung Electronics and SK hynix remained central because of their large weight in the benchmark and their direct exposure to demand for memory chips used in AI systems and data centers.

Wednesday’s opening moves represented a snapshot of morning trading rather than a final closing result. The index and individual share prices could change substantially during the remainder of the session as investors responded to overseas markets, company news and expectations for technology earnings.