24.06.202601:43:29UTC+00South Korean Shares Rebound on Chip Gains

The benchmark KOSPI climbed more than 3% to around 8,470 on Wednesday, recouping part of the previous session’s steep losses as investors rotated back into semiconductor stocks after the sharp market selloff. Chipmakers led the rebound, with Samsung Electronics and SK Hynix gaining over 6% and 2%, respectively, supported by optimism over AI-driven memory demand and ahead of key sector earnings, including Micron’s results due later this week.

Additional notable risers included HD Hyundai Heavy Industries (up 1.4%), Hanwha Ocean (1.7%), Kia Corporation (1.3%), and Doosan Enerbility (0.8%). Overall risk sentiment improved as well, helped by a pullback in oil prices after worries about supply disruptions in the Strait of Hormuz eased.

Separately, MSCI decided to keep South Korea in its emerging-market category, citing persistent issues with foreign-exchange market accessibility and thereby postponing the country’s potential upgrade to developed-market status.