24.12.202502:03:17UTC+00South Korean Shares Rise on Wall Street Strength

The benchmark KOSPI experienced a 0.2% increase, reaching approximately 4,125 on Wednesday, continuing its upward trend for the third consecutive session. This movement was influenced by the robust performance on Wall Street, primarily driven by advancements in AI and semiconductor stocks. The positive outlook for semiconductors was bolstered following the announcement from US trade authorities regarding a delay of at least 18 months in the imposition of new tariffs on Chinese chip imports, mitigating short-term trade risks for the global semiconductor supply chain. Leading the charge were technology giants such as Samsung Electronics and SK hynix, which saw increases of 0.3% and 1.1%, respectively, reflecting the strength observed in US semiconductor companies. Furthermore, support came from the automotive sector after the government decided to extend consumption tax cuts on passenger vehicles for an additional six months. This policy move buoyed the shares of Hyundai Motor and Kia, which rose 2.5% and 1.1%, respectively, as it was perceived to help stabilize short-term demand amidst fragile consumer sentiment. Other notable performers included LG Energy Solution, climbing 0.5%, SK Square with an increase of 2.5%, and Shinhan Financial Group which rose 1.7%.