Latest from RobotFX: important news impacting currency trading.
The benchmark KOSPI jumped nearly 4% to around 6,830 on Thursday, extending its advance to the highest level in almost three weeks as major chipmakers rallied in the wake of overnight gains in US technology stocks. Samsung Electronics climbed more than 4%, while SK hynix soared over 7%, with renewed optimism about AI-driven demand buoying sentiment across the semiconductor sector. Robust gains were also seen in SK Square (9.0%), Hyundai Motor (3.4%), LG Energy Solution (2.1%), Hanwha Aerospace (2.9%), HD Hyundai Heavy Industries (1.0%) and Kia Corporation (1.7%).
An in-line US inflation reading tempered expectations of a Federal Reserve rate hike in September, further boosting risk appetite and supporting technology names. In addition, the South Korean government’s plan to ease regulations on semiconductor and AI megaprojects—expected to spur KRW 4.2 trillion in investment—added another layer of support to the market backdrop.
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