South Korean Shares Set Fresh Record on Tech Rally

The benchmark KOSPI climbed more than 3% to around 8,750 on Monday, hitting a fresh record high amid strong semiconductor exports and continued AI-driven demand. South Korea’s exports surged 53% year-on-year to a record $87.8 billion in May, led by a 169% jump in semiconductor shipments, reinforcing optimism over the sector’s earnings outlook. Samsung Electronics led the advance, soaring 5.7%, while investors also looked ahead to Nvidia CEO Jensen Huang’s visit to South Korea later this week, with expectations of AI and semiconductor partnership opportunities. Additional support came from record highs on Wall Street, fueled by sustained enthusiasm for AI infrastructure spending. Other notable gains included Hyundai Motor (2.1%), Doosan Enerbility (4.5%), Hanwha Aerospace (5.3%), KB Financial Group (1.3%), and LG Electronics (24.4%). However, lingering uncertainty surrounding US-Iran negotiations and higher oil prices kept broader geopolitical and inflation risks in focus.

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