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2w ago

Seoul Stocks Rally for Fourth Day Approaching 3,000 on Tech and AI Boost

Fed’s rate pause follows mixed Wall Street signals with rising oil prices fueling defense share gains on heightened Middle East tensions

An electronic signboard at Hana Bank in central Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) hitting the 3,000-point mark for the first time in over three years on June 20, 2025. (Yonhap)
A dealing room at Hana Bank in central Seoul on June 18, 2025. (Yonhap)
A dealing room at Hana Bank in central Seoul on June 19, 2025 (Yonhap)
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Overview

  • KOSPI rose 0.19 percent to close at 2,977.74 on Thursday, its fourth straight advance as it nears the 3,000 threshold for the first time in over three years.
  • Naver jumped 3.49 percent to 252,000 won and Kakao rallied 9.42 percent to 60,400 won after Seoul unveiled a massive AI investment plan and JP Morgan maintained an overweight rating on Naver.
  • Defense stocks including Hanwha Aerospace and Poongsan posted double-digit gains on escalating Israel-Iran conflict and higher international oil prices.
  • The won slid to around 1,380 per dollar, marking a one-month low as global uncertainties and mixed U.S. economic signals weighed on the currency.
  • The U.S. Federal Reserve held its benchmark rate at 4.25–4.50 percent, driving mixed Wall Street reactions and reinforcing cautious sentiment among investors.