South Korean stocks ended the trading session for the Sept 7-11 week higher despite a sharp late-week retreat, as an early surge in semiconductor and artificial intelligence (AI)-linked shares outweighed mounting concerns over oil prices, inflation and the US interest-rate outlook.
The Kospi finished at 6,909.91 on Sept 11, up about 3.3% from its Sept 4 close of 6,687.21. The benchmark began the week with a powerful 4.61% rally to 6,995.39 on Sept 7, driven by renewed optimism over AI-related demand and strong gains in chipmakers.
Momentum, however, faltered on Sept 8, when the index slipped 0.58% to 6,954.52 amid concerns that higher energy prices could keep inflation elevated and prompt further tightening by the US Federal Reserve.
The Kospi rebounded 1.4% to 7,051.64 the following day, with Samsung Electronics and SK hynix leading gains as enthusiasm surrounding AI and semiconductors overshadowed escalating Middle East tensions.
Sentiment deteriorated again late in the week as surging oil prices intensified inflation worries. The index eased 0.25% on Sept 10 to 7,033.92, before dropping 1.76% the following day to 6,909.91, when foreign and institutional investors sold a combined 3.51 trillion won worth of shares.
Despite the volatile finish, the Kospi’s weekly advance underscored continued investor appetite for South Korea’s AI and semiconductor heavyweights.
However, rising energy costs, Middle East tensions and expectations for tighter US monetary policy remain key risks heading into the new week.
