Key facts
- KOSPI closed up 2.05% to 5,668.05 on Oct. 16, 2026.
- Investors bought large-cap tech shares, especially chipmakers, after a prior 10% tumble.
- Fed Chair Kevin Warsh expressed optimism for the U.S. economy and AI.
- Samsung Electronics rose 2.62% to 215,500 won.
- SK hynix rose 0.79% to 1,272,000 won.
- The Korean won traded at 1,331.4 per U.S. dollar.
Seoul stocks rebounded by more than 2 percent on Friday, October 16, 2026, ending a seven-day losing streak. The benchmark Korea Composite Stock Price Index (KOSPI) closed up 2.05 percent to 5,668.05. Investor sentiment was lifted by an eased chip rout and expectations regarding the Federal Reserve's monetary policy. Federal Reserve Chair Kevin Warsh's optimistic remarks on the U.S. economy and artificial intelligence revived appetite for risky assets, particularly large-cap tech shares. Nvidia chief Jensen Huang's comments also helped alleviate concerns over the AI industry's financial health. The Korean won strengthened against the U.S. dollar, trading at 1,331.4 won.