Seoul: South Korean stocks finished markedly higher Monday, driven by gains in top-cap Samsung Electronics and other tech shares, which tracked their Wall Street peers despite ongoing concerns over U.S. President Donald Trump’s sweeping tariff scheme. The local currency also appreciated against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) rose by 44.33 points, or 1.73 percent, closing at 2,610.69. This marked the end of a two-day losing streak. Trade volume was moderate, with 391.15 million shares valued at 11.82 trillion won (approximately US$8.16 billion) changing hands, and winners outnumbering losers 529 to 355.
Foreign investors and institutions purchased a net 624.51 billion won and 498.69 billion won worth of local shares, respectively, while retail investors sold a net 1.18 trillion won worth of shares. The index opened higher and continued to gain after U.S. shares rose on Friday thanks to bargain hunting for recently battered tech blue chips, as investors shrugged off fears of an economic slowdown and a global trade war.
Analysts noted that investor sentiment improved following China’s announcement on Sunday of a plan to boost domestic consumption. Market bellwether Samsung Electronics increased by 5.3 percent to 57,600 won, while chip giant SK hynix advanced 0.73 percent to 206,000 won.
The strong performance of tech blue chips coincided with the start of GTC 2025, the GPU Technology Conference hosted by Nvidia in California, focusing on artificial intelligence, robotics, and other advanced technologies. Leading bio firm Samsung Biologics surged 1.71 percent to 1,069,000 won, and Celltrion grew 0.91 percent to 187,800 won.
However, LG Energy Solution, a leading electric vehicle battery maker, shed 0.46 percent to 325,000 won, and SK Innovation plunged 4.39 percent to 126,200 won. Carmakers ended mixed, with Hyundai Motor edging up 0.25 percent to 199,000 won, while its sister affiliate Kia dropped 0.7 percent to 98,800 won.
Among the gainers, leading defense equipment manufacturer Hanwha Aerospace soared 6.81 percent to 753,000 won, and top steelmaker POSCO Holdings added 0.82 percent to 307,000 won. Top portal operator Naver increased 1.44 percent to 211,000 won, and Kakao, operator of the country’s top mobile messenger, rose 0.12 percent to 43,500 won.
The local currency was quoted at 1,447.9 won against the greenback at 3:30 p.m., up by 5.9 won from the previous session. Meanwhile, bond prices, which move inversely to yields, ended lower. The yield on three-year Treasurys rose 0.5 basis point to 2.601 percent, and the return on benchmark five-year government bonds added 0.7 basis point to 2.647 percent.