South Korean equities rebounded strongly on Thursday, closing the KOSPI up 1.95% at 6,971.35 points after an early dip of more than 1%. The rally was led by semiconductor giants, reflecting a surge in chip exports that smashed analysts’ expectations.
Record chip shipments fuel export boom
September export data showed an 83.5% year‑over‑year increase, reaching a record $120.9 billion. The surge was driven primarily by semiconductor shipments, which more than tripled as global demand for artificial‑intelligence memory chips surged.
Factory activity also accelerated, posting its strongest growth in four months, while a survey indicated export demand was the fastest in 15½ years, buoyed by both the chip and auto sectors.
Key market players lead the gains
Samsung Electronics rose 2.79% and SK Hynix gained 3.21%, pulling the broader index higher. Of the 916 listed securities, 542 advanced while 332 fell.
Foreign investors were net sellers, offloading shares worth 547.3 billion won (about $403 million). The won slipped 0.20% to 1,358.4 per dollar.
Financial market outlook
South Korea’s finance minister said authorities will monitor the markets closely and act pre‑emptively if needed. Treasury yields moved modestly, with the three‑year bond yield down 0.2 basis points to 4.009% and the 10‑year benchmark up 2.8 basis points to 4.429%.
U.S. chipmaker Micron Technology also reported stronger‑than‑expected quarterly revenue forecasts and noted increased long‑term supply commitments worth $32 billion, underscoring continued demand for AI‑related memory chips.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
