Seoul market climbs as chip makers rally, oil price worries persist
South Korean equities opened higher on Monday, driven by gains in major semiconductor firms, while high crude prices kept investors cautious.
On Monday, the Korea Composite Stock Price Index opened at 6,938.34, gaining 44.11 points (0.64%) following a 2.66% jump on Friday. The earlier rise was sparked by softer inflation worries and a rally in U.S. semiconductor shares, which lifted Korea's leading chipmakers. The Philadelphia Semiconductor Index rose 2.78%, while the Nasdaq added 0.39% and the S&P 500 edged up 0.17%.
Despite the upbeat equity movement, elevated oil prices remained a concern, with Brent crude trading near US$104.68 per barrel amid persistent Middle East tensions. Investors therefore balanced optimism in the tech sector with caution over energy-related inflation risks.
Why it matters
The move reflects how global chip demand and oil price volatility influence South Korea's stock market.
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