Seoul Shares Spike 4.6 Pct to 5-Week High on Renewed AI Optimism
Foreign and institutional investors bought 5.22 trillion won in chip shares as Samsung Electronics and SK hynix climbed on AI-driven memory demand.
- South Korean stocks rallied to a five-week high as the KOSPI surged 4.61 percent to close at 6,995.39 on Monday, driven by artificial intelligence optimism.
- OpenAI's new GPT-6 Astra model fueled a semiconductor rally, with Samsung Electronics jumping 5.68 percent and Hanmi Semiconductor rising 4.57 percent as investors anticipated increased AI-driven memory demand.
- Foreign and institutional investors net purchased 2.59 trillion won and 2.64 trillion won worth of shares, respectively, while retail investors net sold 6.82 trillion won.
- Brokerages reported that the memory market next year is likely to face "the tightest supply conditions in history," with chipmaker inventories falling below 10 days.
- Despite renewed investor interest, concerns over U.S. interest rates remain as the yield on three-year Treasurys rose 1.6 basis points to 3.900 percent.
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11 Articles
Driven by the impact of 'GPT-6 Asra,' the next-generation model unveiled by OpenAI last weekend that ignited global semiconductor stocks, the KOSPI surged 4% on the 7th, coming close to the 7,000 mark. The KOSPI closed at 6,995.39, up 4.61% from the previous trading day, just 5% away from the 7,000 mark.
(Seoul = Yonhap News) Reporter Lim Eun-jin = The KOSPI rose more than 4.6% on the 7th on the semiconductor 'warm wind' driven by OpenAI, putting it on the verge of reclaiming the 7,000 mark.
The KOSPI index is rising by over 3% in early trading on the 7th. This is attributed to the surge in memory semiconductor stocks following OpenAI's earlier launch of its next-generation artificial intelligence (AI) model, 'Astra'. As of 9:03 AM on this day, the KOSPI index recorded 6,896.82, up 209.61 points (3.13%) from the previous trading day. The KOSPI index rose 3.34% (223.57 points) from the previous trading day to 691
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