South Korean shares climb more than 1% as chipmakers rally on AI optimism

Published on 03/16/2026 at 03:12 am EDT
* KOSPI rises, foreigners net sellers
* Korean won steady against dollar
* South Korea benchmark bond yield falls
(Reuters) - Round-up of South Korean financial markets:
** South Korean shares closed more than 1% higher on Monday after a volatile session, lifted by a rally in chipmakers on artificial intelligence optimism, even as broader market sentiment remained fragile amid the Middle East conflict.
** The benchmark KOSPI closed up 62.61 points, or 1.14%, at 5,549.85. The index opened higher but briefly slipped into negative territory, falling as much as 0.7% before rebounding into the close.
** "Except the chip sector, most others were weak amid geopolitical risks, which are yet to be resolved, and the timing also unclear," said Park Kwang-nam, an analyst at Mirae Asset Securities.
** The U.S. Commerce Department withdrew a planned rule on AI chip exports on Friday, boosting investor hopes for a delay or potential loosening of restrictions.
** South Korea will lift limits on coal-fired power generation capacity and raise nuclear power plant utilisation as part of an energy response to the Middle East crisis, its ruling Democratic Party said on Monday.
** U.S. President Donald Trump's appeal for a coalition to help reopen the arterial Strait of Hormuz drew no support, as allies Japan and Australia declined to send naval ships to the region.
** Chipmaker Samsung Electronics rose 2.83% and peer SK Hynix gained 7.03%, leading KOSPI higher.
** Most other index heavyweights fell, with battery maker LG Energy Solution easing 0.81%. Hyundai Motor and sister automaker Kia lost 2.13% and 1.40%, respectively.
** Steelmaker POSCO Holdings shed 1.04% and drugmaker Samsung BioLogics fell 1.51%.
** Of the total 924 traded issues, 250 advanced and 646 declined.
** Foreigners were net sellers of shares worth 848.1 billion won ($566.5 million).
** The won was quoted steady at 1,497.5 per dollar on the onshore settlement platform.
** The most liquid three-year Korean treasury bond yield fell 4.1 basis points to 3.298%, while the benchmark 10-year yield eased 0.2 basis point to 3.678%. ($1 = 1,497.0000 won) (Reporting by Jihoon Lee; Editing by Sumana Nandy)

Sumber : Reuters