09.06.202601:44:28UTC+00South Korean Shares Rebound on AI Optimism

The benchmark KOSPI climbed more than 3% to around 7,720 on Tuesday, recouping part of the previous session’s sharp losses as technology shares rebounded and investors remained upbeat about the long-term prospects for artificial intelligence. Nvidia CEO Jensen Huang characterized the recent semiconductor selloff as a buying opportunity, while Nvidia deepened its partnerships with major South Korean companies and SK hynix moved to expand its HBM4 production capacity. Samsung Electronics (up 2.5%) and SK hynix (up 5.9%) led the rally, joined by SK Square (up 4.2%), Kia Corporation (up 7.9%), and Doosan Enerbility (up 3.9%). Sentiment was further buoyed by improved global risk appetite after Israel and Iran agreed to a ceasefire. In addition, South Korea’s first-quarter GDP growth was revised up to 1.8%, driven by strong semiconductor exports and solid investment. Nonetheless, the advance was capped by expectations that robust growth and persistent inflation pressures could keep interest rates elevated for an extended period.