South Korean shares surge over 3% as tech stocks rebound, oil prices ease

South Korean shares rallied on Tuesday, snapping a three-session losing streak, as a recovery in US technology stocks and lower global oil prices lifted investor sentiment. The decline in crude prices also eased concerns over inflation, although the won weakened and government bond yields edged higher, according to a report by Reuters.

The benchmark Kospi rose 179.13 points, or 3.57%, to 5,197.98 as of 0111 GMT, tracking gains on Wall Street. The index has advanced 23.35% so far this year.

Chipmakers led the rally, with Samsung Electronics climbing 3.74% and SK Hynix gaining 5.28%. Battery manufacturer LG Energy Solution advanced 3.77%, while Hyundai Motor rose 1.84%. Kia Corp slipped 0.21%, Reuters reported.


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Among other heavyweight stocks, POSCO Holdings gained 3.47%, while Samsung BioLogics declined 2.32%.

Market breadth remained positive, with 664 stocks advancing against 196 declining among the 905 issues traded. Foreign investors were net buyers of South Korean shares worth 136.2 billion won.

The report stated that US stocks rallied on Monday as falling oil prices helped ease inflation concerns, allowing the S&P 500 to recover from its biggest weekly decline since April 2025. Technology shares also advanced, despite a decline in Nvidia amid controversy surrounding CEO Jensen Huang.

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In the currency market, the South Korean won weakened against the dollar. It was quoted at 1,344.5 per dollar on the onshore settlement platform, down 0.33% from its previous close of 1,340.0.

In offshore trading, the won stood at 1,343.4 per dollar, down 0.2% on the day. Its one-month non-deliverable forward contract was quoted at 1,342.6.

Despite the latest weakness, the won has strengthened 7.1% against the dollar so far this year.

In the bond market, December futures on three-year Treasury bonds fell 0.06 point to 103.75. The yield on the most liquid three-year Korean Treasury bond rose 1.9 basis points to 3.653%, while the benchmark 10-year yield increased 0.7 basis point to 3.865%.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)