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

Odaily Planet Daily 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 and continued to climb on the 23rd. Driven by semiconductor, robotics, and AI concept stocks, the KOSPI index broke through 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 following a significant prior pullback, these factors collectively drove the market rebound.

In terms of fund flows, foreign investors recorded net purchases of 213.4 billion won, becoming the main force driving the index upward. Individual and institutional investors recorded net sales of 65.3 billion won and 146.8 billion won, respectively. South Korea's KOSDAQ index also performed strongly, opening up 1.65%, with foreign investors net buying 5.8 billion won, while individual and institutional investors recorded net sales of 5 billion won and 600 million won, respectively. (Jinshi Data)