FX.co ★ South Korean Shares Set New Record

The benchmark KOSPI jumped nearly 2% to around 9,230 on Monday, erasing the previous session’s losses and setting a new record high, driven primarily by gains in technology stocks. Sentiment was buoyed by data showing South Korea’s exports surged 60.4% year-on-year in the first 20 days of June, with semiconductor shipments nearly tripling on the back of strong global AI-related demand. Confidence in the chip sector was further lifted by reports that LG Group executives are scheduled to meet Nvidia officials this week to explore cooperation in AI and robotics. SK Hynix gained about 4%, SK Square rallied more than 8%, and Samsung Electronics advanced 1.0%. The export-led upswing helped offset worries over renewed tensions in the Middle East and rising oil prices, as investors continued to track US-Iran negotiations and their potential implications for inflation and the Federal Reserve’s policy outlook.