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Markets

Seoul Stocks Climb Nearly 4% as AI Optimism Lifts Chip Shares

KOSPI rose 3.9% late Tuesday morning as AI optimism and lower oil prices lifted chip shares and risk appetite.

AI News Feed · 2026-10-27 13:17

The benchmark Korea Composite Stock Price Index opened 3.46 percent higher and extended gains to trade up 213.1 points, or 3.9 percent, at 5,682.6 as of 11:20 a.m., according to Yonhap. Foreign buying drove the rally, and the Korea Exchange activated a buy-side sidecar at 10:13 a.m., suspending buy orders in program trading for KOSPI-listed shares for five minutes. The measure is triggered when KOSPI 200 futures rise at least 5 percent and remain at that level for one minute or longer, Yonhap reported.

Overnight in the United States, the Dow Jones Industrial Average gained 0.28 percent, the S&P 500 advanced 0.7 percent and the Nasdaq Composite climbed 0.82 percent. Yonhap reported that investor sentiment improved after AI startup Anthropic disclosed strong revenue growth in its U.S. initial public offering filing, reigniting enthusiasm for AI-related stocks ahead of major technology earnings and the Federal Reserve's interest rate decision. Oil prices also retreated on hopes of easing Middle East tensions after reports of Qatari mediation efforts involving Iran and the United States.

KOSPI heavyweights rose across the board. Samsung Electronics gained 4.69 percent, SK hynix increased 6.59 percent, SK Square jumped 10.79 percent and Samsung Electro-Mechanics surged 7.78 percent, according to Yonhap.

The Korean won was trading at 1,323.2 won against the U.S. dollar at 11:20 a.m., up 2.8 won from the close of the previous stock trading session, Yonhap reported.