16.09.202502:17:13UTC+00South Korean Shares Hit Fresh Record on Chipmaker Rally

The benchmark KOSPI index climbed by 0.8% on Tuesday, reaching approximately 3,435 and marking its seventh consecutive session of gains to set yet another all-time high. This upward movement was bolstered by significant performances in the chipmaking sector and favorable domestic policy indications. SK Hynix saw a notable increase of 3.8%, while Samsung Electronics rose by 1.3%, as investors displayed confidence in sustained demand for semiconductors, fueled by optimism surrounding artificial intelligence developments and a reduction in trade tensions. The inflow of foreign capital was further encouraged by the finance minister's commitment to advancing towards a 'KOSPI 5,000' era through AI-driven innovation. Additionally, the government's choice to maintain the KRW 5 billion threshold for large shareholder capital gains tax boosted investor confidence in market prospects. On a global scale, improved signals from trade discussions between the United States and China, held in Madrid, alleviated concerns over global growth. Furthermore, the anticipation of a potential US Federal Reserve rate cut within the week heightened global risk appetites.