Overview

• South Korean shares rose 0.38% to 3,184.42 on Wednesday, with semiconductors, pharmaceuticals and nuclear names leading gains as foreigners bought a net 435 billion won.
• Samsung Electronics rose 1.01% to 69,800 won and SK hynix added 0.77% to 262,500 won, while the won eased to 1,392.3 per dollar.
• On Tuesday the Kospi rebounded 0.94% to 3,172.35, foreigners turned net buyers by 389 billion won, and the won firmed to 1,391.0 per dollar.
• The week opened with a 1.35% slide to 3,142.93 as reports of a Chinese AI chip and the U.S. plan to remove VEU status for Samsung and SK hynix weighed on tech shares.
• Ending VEU status would force individual U.S. export licenses for certain chip equipment bound for the firms’ China plants, a risk that kept sentiment cautious as Korean government bond yields ticked higher this week.