Key facts
- Seoul stocks reached a record high above 9,000.
- The rally was driven by chips and other tech heavyweights.
- The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.21 percent to 9,264.51.
- The gains followed a chip rally on Wall Street, influenced by Intel and a reported Apple deal.
- Samsung Electronics rose 1.38 percent, and SK Hynix jumped 5.92 percent.
Seoul stocks traded sharply higher late Friday morning, extending gains after surpassing the historic 9,000 landmark in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose 200.67 points, or 2.21 percent, to 9,264.51, as of 11:20 a.m., after reaching an intraday peak above 9,300.
The rally was fueled by a surge in chip and technology stocks, mirroring gains on Wall Street overnight. A key catalyst was U.S. President Donald Trump's announcement that Intel had agreed to a deal with Apple to design and manufacture chips in the United States.
In Seoul, major chipmakers saw significant increases. Market leader Samsung Electronics climbed 1.38 percent, while its competitor SK Hynix jumped 5.92 percent. Other notable movers included top carmaker Hyundai Motor, up 1.33 percent, and battery manufacturer LG Energy Solution, which gained 1.88 percent. Nuclear power plant builder Doosan Enerbility retreated 2.41 percent.
The Korean won was trading at 1,538.1 won against the U.S. dollar, down 11 won from the previous session.