SEOUL, September 09 (AJP) - South Korean stocks rebounded Wednesday morning, with the KOSPI climbing back above 7,000 as gains in chip heavyweights Samsung Electronics and SK hynix outweighed lingering pressure from higher oil prices and Middle East tensions.
The benchmark stood at 7,039.16 as of 10:54 a.m., up 1.22 percent from the previous session.
The KOSPI opened 0.26 percent higher at 6,972.87 and briefly slipped to 6,968.06 before turning higher as buying strengthened in semiconductor and other heavyweight shares.
The rebound came a day after the index climbed as high as 7,171.52 before reversing sharply to close at 6,954.52, as rising international oil prices and geopolitical concerns in the Middle East erased an earlier chip-led rally.
Major U.S. indexes fell for a second straight session overnight as escalating Middle East tensions pushed up oil prices and Treasury yields.
The Dow Jones Industrial Average dropped 1.18 percent, the S&P 500 lost 0.58 percent and the Nasdaq Composite fell 0.32 percent.
West Texas Intermediate crude rose to $94.20 a barrel as concerns over oil supplies intensified following U.S.-Iran military tensions and attacks on Saudi energy facilities. The U.S. 10-year Treasury yield climbed to 4.79 percent, adding pressure on risk assets.
Chip shares, however, bucked the broader decline on Wall Street.
The Philadelphia Semiconductor Index gained 1.30 percent as expectations for continued artificial intelligence investment supported the sector. Investors focused on signs that AI demand is broadening beyond accelerators into inference, central processing units and networking equipment.
Intel surged 9.05 percent and AMD jumped 5.90 percent, while Nvidia fell 2.01 percent and Micron Technology lost 1.61 percent.
In Seoul, Samsung Electronics rose 0.93 percent to 272,000 won and SK hynix gained 2.96 percent to 1,846,000 won. Samsung Electronics preferred shares edged up 0.10 percent to 198,600 won.
Other semiconductor-related large caps also advanced. Samsung Electro-Mechanics gained 2.92 percent to 1,410,000 won, while SK Square rose 0.53 percent to 1,137,000 won.
Power and defense shares also gained on expectations for overseas orders.
Doosan Enerbility climbed 3.24 percent to 92,400 won, extending gains from the previous session amid expectations tied to South Korea's planned nuclear and power investments in the United States.
Hanwha Aerospace rose 1.66 percent to 1,044,000 won as expectations persisted for additional overseas defense orders. The company is showcasing its K9A2 self-propelled howitzer at the MSPO 2026 defense exhibition in Poland, running from Sept. 8 to 11, as it pursues a third K9 execution contract with the country.
Elsewhere, LG Energy Solution gained 0.72 percent to 351,000 won, Kia rose 0.64 percent to 126,200 won and Samsung Biologics edged up 0.14 percent to 1,442,000 won.
Samsung C&T added 0.13 percent to 382,500 won, while Hyundai Motor was unchanged at 385,000 won.
Financial shares were weaker. Shinhan Financial Group dropped 2.74 percent to 110,100 won, KB Financial fell 1.04 percent to 171,900 won and Samsung Life declined 0.81 percent to 305,500 won.
The KOSPI's rebound was driven largely by local institutions, which bought a net 304.2 billion won ($226 million) as of 10:54 a.m. Retail investors sold a net 638.6 billion won, while foreign investors offloaded 201.3 billion won.
Despite the rise in the benchmark, gains were not broad-based.
A total of 401 KOSPI-listed stocks advanced, while 465 declined and 44 were unchanged, underscoring that the rebound was concentrated in heavyweight shares.
The junior KOSDAQ rose even faster, gaining 1.86 percent, or 15.09 points, to 826.97 as semiconductor equipment and component shares extended early gains.
In the currency market, the Korean won strengthened to 1,339.20 per dollar from 1,345.60 a day earlier.
AJP Takeaways
- South Korea's benchmark KOSPI rose 1.22 percent to 7,039.16 as of 10:54 a.m. on September 9, 2026, reclaiming the 7,000 level as Samsung Electronics and SK hynix led a rebound in heavyweight semiconductor shares.
- Samsung Electronics gained 0.93 percent to 272,000 won and SK hynix rose 2.96 percent to 1,846,000 won on September 9, 2026, supported by strength in U.S. semiconductor shares even as higher oil prices and Treasury yields pressured broader global markets.
- Institutional investors bought a net 304.2 billion won of KOSPI shares as of 10:54 a.m. on September 9, 2026, while retail and foreign investors were net sellers, with investors also awaiting the U.S. August producer price index on September 10 and consumer price index on September 11.
Copyright ⓒ Aju Press All rights reserved.
