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Kospi maintains winning streak with 0.62% climb on chip optimism

Published: 19 Mar. 2025, 16:42

CHO YONG-JUN
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,628.62 points on March 19, up 16.28 points, or 0.62 percent, from the previous trading session. [NEWS1]

Shares finished higher Wednesday, driven by big-cap tech and steel shares, amid expectations for a recovery in the chip sector despite lingering concerns about U.S. President Donald Trump's sweeping tariff measures.

The benchmark Kospi rose 16.28 points, or 0.62 percent, to close at 2,628.62, extending its winning streak to a third straight session. The Kosdaq fell 7.19 points, or 0.96 percent, to close at 738.35.

Trade volume was moderate at 645.95 million shares worth 11.66 trillion won ($8.03 billion), with winners outpacing losers 504 to 370.

Foreign investors and institutions bought a net 307.12 billion won and 285.72 billion won worth of shares, respectively, while retail investors sold a net 675.8 billion won.

The market opened markedly higher, following overnight gains on Wall Street, and maintained the momentum.

Experts said expectations for a recovery in the semiconductor sector have grown despite concerns about the impact of the U.S. tariff scheme.

Eyes are also on the U.S. Federal Reserve's two-day rate-setting meeting that began Tuesday as well as Fed Chair Jerome Powell's comments on the monetary policy path and economic assessment.

Top-cap chip shares led the upturn of the index.

Samsung Electronics soared 1.56 percent to 58,500 won, after its CEO Han Jong-hee vowed to make "all-out efforts" to boost shareholder value despite tough circumstances at home and abroad and to actively push for "more meaningful" mergers and acquisitions as part of growth strategies.

SK hynix surged 1.23 percent to 205,500 won and LG Energy Solution advanced 1.69 percent 330,500 won.

Hyundai Motor jumped 1.75 percent to 204,000 won and Kia added 0.73 percent to 97,100 won.

Posco Holdings went up 2.46 percent to 312,500 won and LG Chem spiked 4.54 percent to 242,000 won.

Samsung Biologics shed 0.46 percent to 1,079,000 won, while Celltrion inched down 0.11 percent to 187,200 won.

Hanwha Aerospace lost 1.05 percent to 756,000 won on profit-taking, and Naver decreased 0.48 percent to 208,000 won.

The local currency was trading at 1,453.4 won against the dollar at 3:30 p.m., up 0.5 won from the previous session.

Bond prices, which move inversely to yields, ended mixed. Three-year government bonds' yield rose 2.5 basis points to 2.622 percent, while the return on the benchmark 10-year U.S. government bonds dropped 1.7 basis points to 4.286 percent.

BY CHO YONG-JUN, YONHAP [[email protected]]