KOSPI tops 3,600 for 1st time as chip stocks lead post-holiday rally

Korea's benchmark KOSPI surged past the 3,600 mark for the first time on Friday, setting a fresh high as investors piled onto semiconductor shares after a weeklong Chuseok holiday. According to the Korea Exchange, KOSPI closed at 3,610.60, up 1.73 percent from Oct. 2, the last trading day before the break. The index touched an intraday high of 3,617.86 before trimming gains. Foreign investors purchased roughly 1.06 trillion won's ($746 million) worth of stocks, while institutions and individual investors offloaded around 597 billion won and 500 billion won, respectively. Secondary bourse Kosdaq rose 0.61 percent to close at 859.49, rebounding from a recent pullback after hitting a record 877.56 on Sept. 23. Semiconductor stocks led the gains, tracking overnight strength in Nvidia, which hit a new intraday high in New York after the U.S. cleared its chip exports to the United Arab Emirates. Samsung Electronics advanced 6.07 percent to close at 94,400 won, while SK hynix jumped 8.22 percent to close at 428,000 won. Investor sentiment was also buoyed by a post from Elon Musk, who wrote on soWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times