South Korean stocks closed 2.4% higher on Aug 14, extending the Kospi’s winning streak to a fifth session as semiconductor shares continued their rebound.
At the closing bell, Yonhap reported that the benchmark Kospi rose 164.6 points, or 2.4%, to close at 6,977.94.
Chip heavyweights Samsung Electronics and SK hynix remained at the centre of the rally, supported by renewed optimism over artificial intelligence-driven memory demand following the sector’s recent sharp correction.
Strong earnings, robust demand and continued spending by major global technology companies have helped restore confidence in Korean chip stocks.
The advance also put the Kospi on course to snap a seven-week losing streak, as investors returned to semiconductor stocks after July’s steep sell-off.
