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Seoul Stocks Rise for Fourth Session on Chip Gains

South Korea's KOSPI closed up 1.21 percent at 7,080.92 on Sept. 23, extending its winning streak to a fourth session as semiconductor shares tracked record Nasdaq closes.

AI News Feed · 2026-09-23 16:39

After opening nearly 2 percent higher, the KOSPI pared its earlier gains as foreign and individual investors sold tech heavyweights to lock in profits. Trade volume was light at 217.4 million shares worth 20.8 trillion won (US$15.3 billion), with decliners outnumbering advancers 546 to 310. Individuals and foreigners sold a net 1.4 trillion won and 51 billion won, respectively, while institutions scooped up 31.6 billion won.

Market heavyweights closed mixed. Market bellwether Samsung Electronics went up 3.25 percent to 285,500 won, while its chip rival SK hynix increased 1.2 percent to 1.86 million won after opening higher. SK Square, the parent company of SK hynix, jumped 5.03 percent to 1.19 million won.

The Korean won was quoted at 1,358.4 won per U.S. dollar as of 3:30 p.m., up 0.2 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 3.4 basis points to 4.006, and the return on the benchmark five-year government bonds moved down 4.7 basis points to 4.220.

On Tuesday local time, U.S. stocks ended mixed, led by a persistent rally in technology shares that propelled the Nasdaq Composite 0.45 percent higher to another record close. In contrast, the Dow Jones Industrial Average fell 0.36 percent, while the S&P 500 declined 0.06 percent.

Investor sentiment improved sharply, backed by an extended rally in stocks related to artificial intelligence, as well as hopes for easing tensions between the United States and Iran. Diplomatic efforts are under way to end the Middle East standoff, which helped to lower global oil prices.

"With the South Korean stock market closed for the Chuseok holiday, investors adopted a wait-and-see stance ahead of key events," Lee Kyung-min, an analyst at Daishin Securities, said. The market will be closed Thursday and Friday for the holiday.

"Foreign investors' net selling, coupled with institutional outflows, capped gains in the index," he added. Yonhap also reported that institutions net bought 31.6 billion won, even as the analyst described institutional outflows as a factor limiting the index's advance.