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South Korean Shares Extend Rally on Chip Optimism
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Trading Economics-
The benchmark KOSPI climbed 5.42% to close at 8,930 on Thursday, extending gains from the previous session as semiconductor stocks rallied on renewed optimism over AI-driven demand. Investor sentiment was boosted after Micron Technology reported stronger-than-expected quarterly results and issued an upbeat revenue forecast, reinforcing expectations of robust demand for memory chips. Chip heavyweights Samsung Electronics and SK hynix advanced sharply by 5.29% and 13.91%, respectively. SK hynix also gained support from plans to raise up to KRW 45.5 trillion through a Nasdaq ADR listing to fund AI chip capacity expansion and related investments. Other gainers included SK Square (6.61%), SK Inc. (20.51%), Hyundai Mobis (1.38%), HD Hyundai Electric (1.92%), and Kia Corporation (0.7%). At the same time, improving shipping conditions in the Strait of Hormuz eased energy supply concerns and supported risk appetite across regional markets.
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