South Korean stocks surged on Monday, led by significant gains in semiconductor shares, helping to counterbalance concerns over escalating Middle East tensions and high oil prices. The Korea Composite Stock Price Index (KOSPI) rose 113.49 points, or 1.65%, to finish at 7,007.72, marking its third consecutive session of gains.
Investor confidence was particularly strong in the artificial intelligence and semiconductor sectors. Samsung Electronics, a major player in the market, saw its shares jump 4.98% to 274,000 won. SK hynix, another key semiconductor company, experienced a modest gain of 0.59% to 1.87 million won. Additionally, SK Square, the parent company of SK hynix, advanced by 4.45%.
Despite the upward trend in semiconductor stocks, the broader market displayed mixed results. Hyundai Motor shares declined by 1.64%, and LG Energy Solution fell 3.3%.
The South Korean currency also saw a modest rise, with the won strengthening against the U.S. dollar. It closed at 1,381 won per dollar, an increase of 4.5 won from the previous trading session.