FX.co ★ South Korean Shares Rise on Semiconductor Gains

On Monday, the benchmark KOSPI index advanced by 1.70% to approximately 4,079, rebounding from last week's three-month low, driven primarily by a rally in semiconductor stocks spurred by bargain hunting. Significant contributions came from Samsung Electronics, which rose by 3.24%, SK Hynix with a gain of 5.89%, and Hanmi Semiconductor, which increased by 5.33%. Investor sentiment was also bolstered by recent corporate developments. On Sunday, President Lee Jae Myung highlighted his administration's dedication to promoting business activities during a discussion with top executives from South Korea's major conglomerates. He promised a comprehensive support package for the corporate sector, which includes easing regulations and swiftly addressing emerging challenges. Furthermore, he emphasized the importance of maintaining robust domestic investment alongside expanding operations in the United States.