AI Investment Optimism Outweighs Middle East Risks, Korean Semiconductor Stocks Lead KOSPI Gains

Odaily Planet Daily News: Despite the overnight decline in U.S. stocks and rising oil prices driven by geopolitical tensions between the U.S. and Iran, South Korea's stock market opened higher and continued to climb on the 23rd. Boosted by semiconductor, robotics, and AI concept stocks, the KOSPI index surged past the 7,000-point mark. The market believes that the ongoing expansion of AI infrastructure investments by global tech giants will bolster the performance of South Korean chip companies. Coupled with bargain hunting after significant prior corrections, these factors have jointly driven the market rebound. In terms of capital flow, foreign investors recorded a net purchase of 213.4 billion Korean won, becoming the main driving force behind the index's rise. Meanwhile, individual investors and institutional investors posted net sales of 65.3 billion Korean won and 146.8 billion Korean won, respectively. South Korea's startup-focused KOSDAQ index also showed strong performance, opening with a 1.65% increase. Foreign investors registered a net purchase of 5.8 billion Korean won, while individual and institutional investors recorded net sales of 5 billion Korean won and 600 million Korean won, respectively. (Jin Shi)