South Korean stocks opened over 1 percent higher on Monday, tracking Wall Street gains, as investors bought technology and automobile shares, but pared gains later in the morning due to profit-taking by foreigners and institutions. The KOSPI surged to a record 5,900.75 in early trading but stood at 5,835.77 by 11:20 a.m. The rally is fueled by optimism over artificial intelligence and strength in chipmakers.
On Monday, February 23, 2026, South Korean stocks opened strongly, following gains on Wall Street from the previous session, with investors snapping up technology and automobile shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 92.22 points, or 1.59 percent, to 5,900.75 in the first 15 minutes of trading, extending a recent rally after closing at a record 5,808.53 on Friday. The surge was buoyed by optimism over artificial intelligence (AI) and advances in chipmakers and other large-cap technology stocks.
In the U.S. on Friday, the Dow Jones Industrial Average climbed 0.47 percent, while the tech-heavy Nasdaq Composite gained 0.9 percent. In Seoul, technology and auto stocks led the advances. Market bellwether Samsung Electronics jumped 3.31 percent early on, with chip giant SK hynix up 2.11 percent. Top automaker Hyundai Motor surged 4.13 percent, and affiliate Kia rose 1.4 percent. Decliners included leading defense firm Hanwha Aerospace, down 0.56 percent, and shipper HMM, off 1.51 percent.
By 11:20 a.m., however, the KOSPI had trimmed gains to 27.24 points, or 0.47 percent, higher at 5,835.77, as foreign and institutional investors locked in profits. Foreigners sold a net 494.59 billion won ($343 million) worth of stocks, institutions offloaded 269.66 billion won, while individuals bought a net 707.16 billion won. Investors are watching if the KOSPI will close above the 5,900 mark for another record or approach 6,000.
The local currency traded at 1,440.25 won against the U.S. dollar at 9:15 a.m., up 6.35 won from the prior session, but strengthened only 3.3 won to 1,443.30 by 11:20 a.m. The rally reflects sustained momentum from AI enthusiasm and semiconductor strength.
