FX.co ★ South Korean Shares Rebound on Chip Rally

The benchmark KOSPI climbed more than 2% to around 7,420 on Thursday, rebounding from a more than one-month low near 7,250 as heavyweight semiconductor stocks advanced. Sentiment improved after reports that SK hynix’s planned US ADR offering was more than seven times oversubscribed, underscoring strong investor demand for the AI-focused memory chipmaker.

Samsung Electronics and SK hynix gained over 3% and 7%, respectively, after steep losses in the previous session, providing a strong lift to the broader market. Other notable gainers included SK Square (5.7%), LG Energy Solution (3.8%), Doosan Enerbility (3.5%), and SK Inc. (3.5%).

Further support came from macroeconomic news, as the Asian Development Bank raised South Korea’s 2026 growth forecast to 2.6% from 1.9%, citing robust global AI demand and solid semiconductor exports as key drivers of the country’s economic outlook. However, renewed US–Iran tensions kept some investors on the sidelines, with higher oil prices stoking inflation worries and tempering global risk appetite.