AI Investment Optimism Outweighs Middle East Risks, Korean Semiconductor Stocks Lead KOSPI Gains

Odaily Planet Daily News: Despite overnight declines in U.S. stocks and rising oil prices driven by heightened geopolitical tensions between the U.S. and Iran, the Korean stock market opened higher and continued to climb on the 23rd. Driven by semiconductor, robot, and AI concept stocks, the KOSPI index surged past the 7,000-point mark. The market believes that the continuous expansion of AI infrastructure investments by global tech giants will boost the performance of Korean chip companies. Coupled with bargain hunting following the significant prior correction, these factors together fueled the market rebound.

In terms of capital flows, foreign investors net purchased 213.4 billion Korean Won, becoming the main force driving the index higher. Individual and institutional investors recorded net sales of 65.3 billion Korean Won and 146.8 billion Korean Won, respectively. The KOSDAQ index, Korea's junior stock market, also showed strong performance, opening up 1.65%. Foreign investors net purchased 5.8 billion Korean Won, while individual and institutional investors net sold 5 billion Korean Won and 0.6 billion Korean Won, respectively. (Jin10)