South Korean stocks witnessed a notable surge on Monday, driven largely by the robust performance of semiconductor shares, amid ongoing concerns over Middle East tensions and rising oil prices. The Korea Composite Stock Price Index (KOSPI) jumped 113.49 points, equivalent to a 1.65% increase, closing at 7,007.72 and marking a continued upward trend for the third consecutive session.
Key players in the semiconductor sector, such as Samsung Electronics and SK hynix, significantly contributed to the positive market sentiment. Samsung Electronics saw its shares climb by 4.98% to reach 274,000 won, while SK hynix experienced a modest increase of 0.59%, closing at 1.87 million won. Additionally, SK Square, the parent company of SK hynix, recorded a 4.45% rise.
Despite the overall market uplift, the performance was mixed across different sectors. Notably, Hyundai Motor’s shares fell by 1.64%, and LG Energy Solution experienced a decline of 3.3%, illustrating varied investor confidence across industries.
In currency markets, the South Korean won strengthened against the US dollar, closing at 1,381 won per dollar, which marked an appreciation of 4.5 won from the previous trading session. This currency movement reflects a favorable shift for the won amid the broader economic developments.