Key facts
- Seoul shares closed up 4.61% at 6,995.39, reaching a five-week high.
- The rally was fueled by renewed optimism surrounding artificial intelligence after OpenAI's new model launch.
- Semiconductor stocks, including Samsung Electronics and SK Hynix, saw significant increases.
- Foreign and institutional investors were net buyers of South Korean equities.
- The Korean won appreciated against the U.S. dollar.
Seoul shares closed up 4.61% at 6,995.39 on Friday, marking a five-week high. The surge was attributed to renewed optimism surrounding artificial intelligence following OpenAI's launch of its new-generation model. Semiconductor stocks, such as Samsung Electronics and SK Hynix, experienced significant gains. Foreign and institutional investors were net buyers of South Korean equities, and the Korean won strengthened against the U.S. dollar.
Earlier in the week, Seoul shares opened higher Tuesday, led by gains in semiconductor stocks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 50.40 points, or 0.72 percent, to 7,045.79 at the opening bell. The index had soared by more than 4 percent in the previous session on the back of a rally in tech stocks amid revived hopes for artificial intelligence (AI)-related earnings momentum.