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South Korean Shares Hit 3-Week High

The benchmark KOSPI climbed more than 1% to around 7,095 on Tuesday, touching a three-week intraday high, as renewed optimism over AI-driven semiconductor demand lifted tech stocks. Samsung Electronics and SK hynix rose more than 1% and 3%, respectively. Expectations for stronger memory demand were reinforced by Samsung’s 39.4% DRAM market share in Q2 and forecasts of critically tight supply as hyperscalers ramp up AI infrastructure spending. Samsung’s planned shareholder-return program also raised expectations for buybacks of its discounted preferred shares. Other notable performers included SK Square (3.0%), Doosan Enerbility (3.3%), SK Inc. (1.2%), and Hanmi Semiconductor (4.8%). Additionally, South Korea’s August exports rose 68.7% year-on-year as semiconductor exports surged more than 200%, while Q2 GDP expanded 0.6% quarter-on-quarter. However, escalating Middle East tensions pushed Brent crude higher, raising inflation concerns and the risk of tighter global monetary policy.

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