South Korean Shares Edge Higher

The benchmark KOSPI rose 0.5% to around 6,840 on Tuesday, edging higher after hitting an over two-month low in the previous session as bargain hunting emerged following a sharp selloff in AI-related chipmakers. Heavyweight technology stocks led the recovery, with Samsung Electronics and SK Hynix advancing 5.5% and 4.1%, respectively, after plunging nearly 11% and a record 15% in the previous session. Other notable gainers included SK Square (2.2%), LS Electric (2.8%), and Hyosung Heavy Industries (1.1%). However, gains remained limited as investors continued to monitor heightened Middle East tensions after the US reinstated a blockade of Iranian ports and President Donald Trump announced a 20% charge on cargo passing through the Strait of Hormuz, lifting oil prices and weighing on global risk sentiment. Investors also looked ahead to earnings reports from major chipmakers and large US technology companies for fresh signals on AI demand and capital spending plans.




