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31m ago

KOSPI Tops 3,550 as Samsung, SK Hynix Soar on OpenAI Tie-Ups

Buying by foreign investors and institutions drove the advance before the Chuseok market closure.

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Oct. 2, 2025. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Oct. 2, 2025. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Oct. 2, 2025. (AP Photo/Ahn Young-joon)
Financial information is displayed as traders work on the floor at the New York Stock Exchange in New York, Wednesday, Oct. 1, 2025. (AP Photo/Seth Wenig)

Overview

  • The KOSPI climbed 2.97% to 3,558.50 by 11:20 a.m. local time, extending an opening surge and moving above 3,500 intraday for the first time.
  • Samsung Electronics rose 4.77% and SK hynix jumped 12.08% after both signed letters of intent to supply memory chips for OpenAI data centers.
  • Foreign and institutional investors were net buyers in late-morning trade, while retail investors sold shares.
  • The won traded around 1,400.25 per U.S. dollar, strengthening by 2.95 won from the previous session.
  • Automakers advanced and shipbuilders were mixed, and the stock market will close from Friday through next Thursday for the extended Chuseok holiday.