South Korean market jumps as chip leaders surge and Middle East tensions ease

On Wednesday morning, South Korea's benchmark index jumped 105.36 points, or about 1.5%, to 7,123.27 as investors welcomed a surge in technology shares. Samsung Electronics rose 2.71% and SK hynix added 2.07%, with SK Square, its parent, up 4.24% and Samsung Electro-Mechanics gaining 3.55%. The move echoed the Nasdaq Composite’s second consecutive record close, fueled by a rally in AI-linked firms.

Market sentiment was further buoyed by diplomatic efforts aimed at de-escalating tensions in the Middle East, which helped push oil prices lower. The Korean won strengthened to 1,349.7 per U.S. dollar, a rise of 6.8 won from the previous close.