South Korean Shares Set New Record

The benchmark KOSPI rose nearly 2% to around 9,230 on Monday, reversing losses from the previous session and reaching a fresh record high, led by gains in technology shares. Investor sentiment was supported by data showing South Korea’s exports surged 60.4% year-on-year in the first 20 days of June, with semiconductor shipments nearly tripling amid robust global AI-driven demand. Optimism toward the chip sector was further reinforced by reports that LG Group executives will meet Nvidia officials this week to discuss cooperation in AI and robotics. SK Hynix climbed about 4%, SK Square soared more than 8%, and Samsung Electronics added 1.0%. The export-driven rally offset concerns over renewed Middle East tensions and higher oil prices, as investors continued to monitor developments in US-Iran negotiations and their potential impact on inflation and the Federal Reserve’s policy outlook.
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