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Seoul Stocks Edge Up for Third Session on Chip Gains, AI Optimism; Won Strengthens

South Korea's KOSPI closed up 0.15% at 7,017.91 on Tuesday, extending its winning streak to a third session as chip stocks tracked a U.S. rally driven by AI optimism. The won rose 7.2 won against the dollar.

AI News Feed · 2026-09-22 16:41

The KOSPI opened more than 2 percent higher and rose as high as 7,171.44 during the session, but it pared most of those gains as individual and institutional investors sold technology heavyweights to lock in profits, according to Yonhap News Agency.

On Monday local time, U.S. stocks rallied. The Nasdaq Composite rose 2.3 percent to a record high, the S&P 500 gained 1.5 percent and the Dow Jones Industrial Average added 0.7 percent. Investor sentiment improved sharply on a broad rally in AI-related stocks, falling oil prices and softening U.S. Treasury yields.

"Meta's new AI agent, MUSE, ranked No. 1 on the U.S. App Store, raising expectations that the spread of AI agents will drive demand for CPUs and servers," Lee Kyung-min, an analyst at Daishin Securities, said. "This also strengthened investor sentiment toward the domestic AI semiconductor value chain." Lee said the KOSPI pared most of its earlier gains after a rebound following its recent sharp decline, resulting in a weaker finish after a strong opening.

Trade volume was light at 251.65 million shares worth 22.2 trillion won (US$16.3 billion), with decliners outnumbering advancers 462 to 382. Individuals and institutions sold a net 1.6 trillion won and 121.8 billion won, respectively, while foreigners bought a net 76.2 billion won.

Market heavyweights closed mixed. Samsung Electronics rose 0.91 percent to 276,500 won, while SK hynix fell 1.5 percent to 1.84 million won after opening higher. SK Square, the parent company of SK hynix, edged up 0.53 percent to 1.13 million won.

The Korean won was quoted at 1,358.2 won per U.S. dollar as of 3:30 p.m., up 7.2 won from the previous stock market session's close. Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 1.6 basis points to 4.04, and the return on the benchmark five-year government bonds fell 0.8 basis points to 4.267.