31.10.202502:06:47UTC+00KOSPI Extends Record Rally

On Friday, the benchmark KOSPI index increased by 0.6%, reaching approximately 4,110 points and setting new record highs. This rise was driven by strong performances from automakers and the semiconductor powerhouse, Samsung Electronics. The index is maintaining momentum for its fifth consecutive weekly gain, marking an impressive nearly 20% increase for the month. Leading the advance, Hyundai Motors surged over 6%, reaching a three-month high, while Kia Corp, its affiliated company, rose by 2.6% after the announcement of the Korea-US trade agreement, which will reduce tariffs on auto exports to 15%. Shipbuilding stocks benefited as well, as the trade accord underscored shipbuilding and energy sectors as key components of South Korea’s planned investments in the US. Moreover, Samsung Electronics reached a new all-time high with a 0.8% increase, contrasting with SK Hynix, which fell by 1.1%. Investor sentiment was buoyed by corporate developments, notably as executives from US tech giant Nvidia, Samsung, and Hyundai convened in Seoul ahead of a scheduled announcement regarding their collaborative efforts in the AI business sector.