South Korean investors saw a surge in semiconductor stocks on Monday, bolstering the Korea Composite Stock Price Index (KOSPI) and providing a counterbalance to the broader market concerns over ongoing Middle East tensions and rising oil prices. The KOSPI jumped by 113.49 points, or 1.65%, reaching a close of 7,007.72, marking its third consecutive session of gains.
A key driver of this upward movement was the strong performance of semiconductor giants. Samsung Electronics experienced a notable increase of 4.98%, closing at 274,000 won. Additionally, SK hynix saw a modest rise of 0.59% to 1.87 million won, while its parent company, SK Square, advanced by 4.45%.
Despite these gains in the tech sector, the broader market exhibited mixed results. Automotive heavyweight Hyundai Motor faced a decline of 1.64%, and LG Energy Solution dropped by 3.3%, reflecting the varied investor sentiment across different industry segments.
In currency markets, the South Korean won strengthened against the US dollar, closing at 1,381 won per dollar, an increase of 4.5 won from the previous session. This development reflects the broader optimism among investors favoring tech stocks, despite geopolitical uncertainties.