South Korean shares end nearly 2% higher on record chip exports
Currency dealers talk in front of an electronic board displaying the exchange rate between the U.S. dollar and South Korean won, the Korea Composite Stock Price Index (KOSPI) and South Korean won and the Korea Securities Dealers Automated Quotations (KOSDAQ) at the dealing room of a bank in Seoul, South Korea, June 8, 2026. REUTERS/Kim Hong-Ji
SEOUL, Oct 1 : Round-up of South Korean financial markets:
** South Korean shares recouped early losses to end nearly 2 per cent higher on Thursday, led by gains in chipmakers after domestic trade data smashed forecasts to hit a fresh record.
** The benchmark KOSPI closed 133.31 points, or 1.95 per cent higher, at 6,971.35, after falling as much as 1.1 per cent earlier in the session.
** The KOSPI snapped three consecutive sessions of decline to post its biggest daily percentage rise since September 18.
** "The domestic market was led by strength in the chip sector after export data. However, we still need to see if growth rates will continue to improve," said Seo Sang-young, an analyst at Mirae Asset Securities.
** South Korea's exports jumped 83.5 per cent in September from a year earlier to a record $120.9 billion, beating the median market expectation for a 62.0 per cent increase, as semiconductor shipments more than tripled on global AI spending.
** South Korea's factory activity grew in September at the strongest pace in four months, as export demand hit the fastest pace in 15-1/2 years led by the chip and auto sectors, a survey showed.
** Upbeat domestic data came after US chipmaker Micron Technology forecast quarterly revenue above estimates on Wednesday and said customers had increased commitments under its long-term supply agreements to $32 billion, signalling unabated demand for AI memory chips.
** South Korea's finance minister said authorities would closely monitor financial markets and take pre-emptive action if needed.
** South Korean chipmaker Samsung Electronics rose 2.79 per cent and peer SK Hynix gained 3.21 per cent, leading the benchmark index higher.
** Of the total 916 traded issues, 542 shares advanced, while 332 declined.
** Foreigners were net sellers of shares worth 547.3 billion won ($402.93 million).
** The won was quoted at 1,358.4 per dollar on the onshore settlement platform, 0.20 per cent lower than its previous close at 1,355.7.
** The most liquid three-year Korean treasury bond yield fell by 0.2 basis points to 4.009 per cent, while the benchmark 10-year yield rose by 2.8 basis points to 4.429 per cent.
($1 = 1,358.3100 won)
