FX.co ★ South Korean Shares Advance on Global Rally

On Friday, the benchmark KOSPI index advanced by 1.2%, reaching approximately 4,160, successfully recouping losses from the prior trading session and nearing a one-month peak. This upward movement was bolstered by a robust global risk appetite following Wall Street's record-breaking performance. Investor sentiment was further buoyed by the ongoing evaluation of the recent interest rate reduction by the US Federal Reserve, which alleviated pressure on yields, prompting renewed investments in major capital stocks in Seoul.

The semiconductor sector also gained momentum, spurred by Broadcom's better-than-anticipated earnings, which helped allay fears of an overheated AI market. Notable gains were observed in Samsung Electronics, which rose 1.4%, and SK Hynix, climbing 2.3%, both of which anchored the index and reinforced positive sentiment across key chip manufacturers. Additionally, advances were recorded in Hyundai Motor, up by 1.6%, Doosan Enerbility with a 1.9% increase, Hanwha Aerospace gaining 4.4%, and Kia Corporation by 1.6%. A stabilizing won currency further supported the market by attracting foreign capital inflows, contributing to steadier overall trading conditions.