2026.06.2501:36:03UTC+00South Korean Shares Extend Rally on Chip Optimism

The benchmark KOSPI surged nearly 5% to around 8,880 on Thursday, extending the previous session’s advance as semiconductor stocks rallied on renewed optimism about AI-driven demand. Sentiment improved after Micron Technology posted stronger-than-expected quarterly earnings and issued an upbeat revenue outlook, reinforcing expectations of solid memory chip demand.

Chip bellwethers Samsung Electronics and SK hynix jumped roughly 5% and 8%, respectively. SK hynix also drew additional support from its plan to raise up to W45.5 trillion through a Nasdaq ADR listing to finance AI chip capacity expansion and related investments.

Elsewhere, notable gainers included SK Square (3.0%), HD Hyundai Heavy Industries (1.7%), Kia Corporation (1.4%), and KB Financial Group (1.8%). At the same time, improving shipping conditions in the Strait of Hormuz eased energy supply concerns and bolstered risk appetite across regional markets.