South Korean Shares Rise as Chip Stocks Offset Inflation Concerns

Published on 10/02/2025 at 03:16 am EDT
(MT Newswires) -- South Korean shares ended higher on Thursday as gains in semiconductor and chipmaker stocks helped offset market concerns over a rebound in September inflation readings.
The Korea Composite Stock Price Index or Kospi rose 93.38 points, or 2.7%, to end at 3,549.21. The Kosdaq also increased by 8.91 points, or 1.05%, to close at 854.25.
OpenAI will partner with Samsung Electronics, which ended 3.5% higher , and SK Group, which ended nearly 10% up, to boost advanced memory supply and expand AI data centers in Korea under its Stargate initiative, according to a Thursday statement.
The deal follows a meeting with President Lee Jae-myung and includes plans for Samsung and SK hynix to scale DRAM production to 900,000 wafer starts per month for OpenAI's next-generation models.
In economic news, South Korea's consumer prices rose 2.1% in September from a year earlier, rebounding from August's 1.7% low and slightly above forecasts, government data showed on Thursday. Gains were driven by processed foods, livestock, and fisheries, with core inflation rising to 2% from 1.3%.
The current account surplus narrowed to $9.15 billion in August from $10.78 billion in July, as exports fell 1.8% to $56.44 billion and imports dropped 7.3% to $47.04 billion.
The services account showed a $2.12 billion deficit, the primary income account a $2.07 billion surplus, and net financial assets rose $7.88 billion.
On the corporate front, J&Private Equity sold 12.75% of Hyundai Hyms, which ended 4.7% lower, for 102 billion won, keeping a 40% stake. Foreign institutions bought the shares, and the remaining stake will be sold after the holiday with NH Investment & PwC advising.
CJ CheilJedang , which closed 0.4% lower, is selling CJ Feed & Care to Royal De Heus for 1.2 trillion won, cutting 800 billion won in liabilities. The sale is expected to boost consolidated profitability.
Daiyang Metal , which closed 2.2% lower, will sell 3.9 million Young Poong Paper shares for 9.66 billion won, keeping 7%. Interim payment of 4.0 billion won is due Oct. 1, remainder on Dec. 12.

Sumber : MT Newswires