Seoul: South Korean stocks surged Thursday, climbing past the 3,500 mark for the first time, as investors welcomed news of business partnerships between OpenAI and top chipmakers Samsung Electronics and SK hynix. The local currency strengthened against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) added 93.38 points, or 2.7 percent, to close at 3,549.21, surpassing the previous record high of 3,486.19 set on September 23. Trade volume was heavy at 394.92 million shares worth 18.57 trillion won (US$13.25 billion), with winners outnumbering losers 589 to 291.
Foreign investors purchased a net 3.14 trillion won worth of shares, while retail and institutional investors sold 3.07 trillion won and 69 billion won worth of shares, respectively. The positive investor sentiment was buoyed by the announcement that Samsung Electronics and SK hynix signed letters of intent to supply memory chips for OpenAI’s data centers.
Kiwoom Securities analyst Han Ji-young commented on the market’s resilience despite macroeconomic and political factors such as the U.S. government shutdown and stalled tariff talks. She noted that investors are focusing on artificial intelligence, semiconductors, and other leading sectors, and that the overall market trend is unlikely to be affected by the upcoming long holidays.
The South Korean stock and foreign exchange markets are set to close from Friday through next Thursday for the extended Chuseok holiday. In the market, Samsung Electronics surged 3.49 percent, and SK hynix spiked 9.86 percent. Other notable performances included LG Energy Solution, which soared 14.82 percent, and Doosan Enerbility, which gained 0.31 percent.
Major bio companies like Samsung Biologics and Celltrion also saw gains, while carmakers Hyundai Motor and Kia increased as well. Shipbuilders had mixed results, and the defense giant Hanwha Aerospace saw a slight decline. The local currency was quoted at 1,400.0 won against the U.S. dollar, up 3.2 won from the previous session. Bond prices closed higher as yields fell.