Seoul Stocks Rise on Chip Gains Amid Renewed AI Optimism

Seoul's stock market has seen a positive trend, with the benchmark Korea Composite Stock Price Index (KOSPI) rising by 10.19 points, or 0.15%, reaching 7,017.91. This marks the third consecutive session of gains, primarily driven by strong performances in the semiconductor sector, which has been buoyed by renewed investor interest in artificial intelligence technologies.

The rise in semiconductor stocks follows a rally on Wall Street, where major indices like the Nasdaq Composite surged by 2.3%. Analysts attribute this optimism to developments such as Meta's new AI agent, MUSE, which has gained significant traction in the U.S. App Store, suggesting increased demand for AI-related hardware.

Despite the positive opening, the KOSPI experienced some profit-taking as individual and institutional investors sold off tech stocks. Notably, Samsung Electronics saw a gain of 0.91%, while SK Hynix faced a slight decline of 1.5%. The overall trading volume was moderate, with a total of 251.65 million shares traded.

In the currency market, the Korean won appreciated against the U.S. dollar, trading at 1,358.2 won per dollar, up 7.2 won from the previous session. This reflects a broader trend of strengthening in the won as investor sentiment improves amid falling oil prices and easing U.S. Treasury yields.