South Korean Shares Extend Rally on Chip Optimism

The benchmark KOSPI climbed nearly 5% to around 8,880 on Thursday, extending gains from the previous session as semiconductor stocks rallied on renewed optimism over AI-driven demand. Investor sentiment was boosted after Micron Technology reported stronger-than-expected quarterly results and issued an upbeat revenue forecast, reinforcing expectations of robust demand for memory chips. Chip heavyweights Samsung Electronics and SK hynix advanced sharply by nearly 5% and 8%, respectively. SK hynix also gained support from plans to raise up to W45.5 trillion through a Nasdaq ADR listing to fund AI chip capacity expansion and related investments. Other notable gainers included SK Square (3.0%), HD Hyundai Heavy Industries (1.7%), Kia Corporation (1.4%), and KB Financial Group (1.8%). At the same time, improving shipping conditions in the Strait of Hormuz eased energy supply concerns and supported risk appetite across regional markets.

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