09.09.202601:51:45UTC+00South Korean Shares Rise on Tech Gains

The benchmark KOSPI rose more than 1% to around 7,060 on Wednesday, erasing the previous session’s losses as sustained strength in semiconductor shares supported sentiment. The Philadelphia Semiconductor Index gained 1.3% overnight, while Samsung Electronics climbed 1.1% and SK hynix advanced 3.4% on ongoing optimism about AI-driven demand.

Defense and shipbuilding stocks also strengthened on the back of new overseas contract developments. Hanwha Ocean added 2.0% after being named the preferred bidder for a $509 million frigate project in Thailand. Other notable gainers included Samsung Electro-Mechanics (3.0%), Doosan Enerbility (3.2%), Hanwha Aerospace (1.7%), HD Hyundai Heavy Industries (1.8%), LS Electric (6.5%), and Hyosung Heavy Industries (4.0%).

However, mounting tensions in the Middle East pushed Brent crude prices toward $100 per barrel, stoking inflation concerns and weighing on broader risk sentiment. Elevated US Treasury yields further curbed investors’ appetite for risk.