AI investment boost outweighs Middle East risks, South Korean semiconductor stocks lead KOSPI gains

Odaily News Despite overnight declines in U.S. stocks and rising oil prices due to geopolitical tensions between the U.S. and Iran, the South Korean stock market opened higher on the 23rd and continued its upward trend. Driven by semiconductor, robotics, 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 South Korean chip companies. Coupled with bargain hunting after the recent sharp correction, this has collectively driven the market rebound.

In terms of capital flows, foreign investors net purchased 213.4 billion won, becoming the main force driving the index up. Individual investors and institutional investors net sold 65.3 billion won and 146.8 billion won, respectively. South Korea's KOSDAQ index also performed strongly, opening 1.65% higher with foreign investors net purchasing 5.8 billion won, while individual and institutional investors net sold 5 billion won and 600 million won, respectively. (Jin Shi)