South Korean Shares Extend Gains

The benchmark KOSPI rose more than 1% to around 6,660 on Friday, extending gains from the previous session, as easing expectations for another US rate hike lifted global risk sentiment. US stocks rallied overnight after Fed Governor Christopher Waller signaled a preference for holding rates steady unless inflation surprises, while the 10-year Treasury yield retreated to 4.77% after reaching its highest level since November 2023. Semiconductor shares also advanced, with Samsung Electronics and SK hynix climbing more than 1% and nearly 3%, respectively. Samsung narrowed its HBM market-share gap with SK hynix in Q2, supporting the outlook for Korea’s key chip sector. Gains were also recorded in SK Square (2.1%), Samsung Electro-Mechanics (2.4%), Samsung SDI (2.5%), and LG Electronics (1.4%). Meanwhile, renewed US plans for targeted semiconductor tariffs linked to companies’ domestic production could limit further gains, with details on rates and exemptions yet to be finalized.






