Seoul shares jump 4.6% to five-week high on OpenAI's GPT-6 Astra; won near two-year high
Seoul shares jump 4.6% to a five-week high on OpenAI's GPT-6 Astra, while the won hits a near two-year high.
The index opened 3.34 percent higher before paring some gains. Trade volume was light at 237.9 million shares worth 21.5 trillion won (about US$16 billion), with advancing stocks outnumbering decliners 476 to 380. Foreign investors bought a net 2.55 trillion won and institutions scooped up 2.64 trillion won, while retail investors dumped a net 6.83 trillion won. A separate Yonhap market report, however, put foreign net buying at 2.5 trillion won. On Friday, U.S. major stock indexes closed lower, but the PHLX semiconductor index rose 3.38 percent.
"Despite sluggish major tech and software shares on Wall Street, investor sentiment was stoked by OpenAI's new Astra, which could open up the artificial general intelligence (AGI) era," said Kang Jin-hyuk, a senior analyst at Shinhan Securities.
Semiconductor shares led the rally. Samsung Electronics jumped 5.68 percent to 270,000 won, and SK hynix soared 8.26 percent to 1.78 million won. Hanmi Semiconductor climbed 4.57 percent to 240,500 won, and SK Square, the parent of SK hynix, vaulted 8.07 percent to 1.13 million won. Among other winners, Hyundai Motor added 2.48 percent and Hyundai Mobis rose 2.37 percent. Hana Financial Group advanced 3.43 percent and Shinhan Financial Group gained 3.26 percent. Defense stocks closed mixed: LIG D&A rose 1.07 percent while Hanwha Aerospace fell 1.52 percent.
The won rose to a near two-year high against the dollar, quoted at 1,340.5 won per dollar as of 3:30 p.m., up 9.9 won from the previous session. Yonhap said the currency touched 1,334.7 in the morning, the strongest since Oct. 4, 2024, helped by exporter dollar selling and SK hynix converting funds raised from a major U.S. listing. The won later pared gains after Yonhap Infomax reported that the state-run National Pension Service had halted its foreign exchange hedging operations.
Bond prices fell, pushing yields higher. The three-year Treasury yield rose 1.6 basis points to 3.900 percent, and the five-year yield climbed 1.9 basis points to 4.120 percent.