Seoul shares extend tech-led rally to new highs – Jan. 5 morning update

Building on January 2's 1.1% gain to 4,260.55, South Korean stocks extended their rally on January 5, propelled by semiconductors and tech shares. The KOSPI surged 2.6% to 4,421.63 as of 11:20 a.m.—crossing 4,400 for the first time—with foreigners net buying heavily despite mixed Wall Street cues.

Seoul's benchmark opened sharply higher, up 93.31 points (2.17%) to 4,402.94 in the first 15 minutes, and climbed further by 112 points (2.6%) to 4,421.63 by 11:20 a.m. Foreigners net purchased 872 billion won ($602 million) of shares, countering sales by institutions (318.16 billion won) and individuals (550.9 billion won).

The prior Friday's mixed Wall Street close saw the Dow up 0.66% at 48,382.39 and Nasdaq down 0.03% at 23,235.63, yet Seoul tech powered ahead: Samsung Electronics leaped 5.53% and SK hynix advanced 2.58%. Autos and industrials joined: Hyundai Motor +2%, Kia +1.49%, POSCO Holdings +2.02%, HD Hyundai +2.88%. Laggards included HMM -1.44% and Hitejinro -0.33%.

The won weakened to 1,447.55 per dollar, down 5.75 won. This momentum underscores sustained optimism in the tech sector amid the year's early rally.

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Trading floor at Seoul's Korea Exchange showing KOSPI index at 4,978.65 after breaching 5,000-point mark amid profit-taking.
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Seoul stocks trim gains after breaching 5,000-point mark

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South Korea's KOSPI index briefly surpassed the 5,000-point mark for the first time on January 22, and continued rising on January 23 morning before trimming gains due to profit-taking. As of 11:20 a.m., the index stood at 4,978.65, up 0.53%, amid mixed performances in tech and auto shares. Optimism over U.S. market gains and AI demand supported the rally.

South Korean stocks closed higher on Friday at a fresh peak just shy of 5,000, led by gains in technology and brokerage shares. The benchmark KOSPI index rose 0.76 percent to 4,990.07 after hitting an intraday record of 5,021.13. The Korean won strengthened against the U.S. dollar.

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On Monday morning, January 12, South Korean stocks rose more than 1 percent, driven by buying in chip and energy shares. The KOSPI index added 1.23 percent to 4,642.52 as of 11:20 a.m. Positive closes in U.S. markets contributed to the upbeat start.

South Korean stocks hit a new intraday record high on Thursday morning, fueled by gains in the auto and shipbuilding sectors. The KOSPI index reached 4,757.35 points before easing slightly. The market showed resilience despite a weak opening.

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South Korean stocks climbed almost 1.5 percent on Wednesday, as investors hunted bargains in semiconductors. The Korean won dropped to an eight-month low against the U.S. dollar. The KOSPI recovered to the 4,000 level after sliding to a nine-day low in the previous session.

Seoul shares opened higher on Tuesday amid hopes for ending the U.S. government shutdown and dividend tax reforms. The KOSPI index rose 2.19 percent to 4,162.30 in early trading. This follows a more than 3 percent gain on Monday.

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Seoul shares closed higher Friday as investors regained confidence in the artificial intelligence sector, boosted by slower-than-expected U.S. inflation data. The local currency also strengthened slightly against the dollar.

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