South Korea's KOSPI jumps over 4% on semiconductor rally
Business
South Korea's KOSPI index shot up more than 4% on Tuesday, mainly thanks to a big jump in semiconductor stocks.
Samsung Electronics and SK Hynix led the way, with their shares climbing more than 5% and more than 7%.
The buzz around AI tech helped push the index to 5,709.85.
Foreign investors buy ₩597.3bn local shares
Stronger-than-expected economic growth boosted investor sentiment, leading foreign investors to buy 597.3 billion won worth of local shares.
The upbeat mood spread across energy, auto, and steel stocks too: LG Energy Solution, Hyundai Motor, Kia Corp, and POSCO Holdings all saw gains.
Meanwhile, the Korean won strengthened 0.08% to 1,325.0 per dollar, and bond markets remained calm, showing solid confidence in South Korea's future.