KOSPI Jumps 3.6% to 5,667.99 as Hynix Gains 7% and Samsung 4.8%
Key Facts
South Korea’s KOSPI rose 3.6% to 5,667.99 by midday Tuesday, October 27, with SK Hynix up 7% and Samsung Electronics up 4.8%, according to a snapshot published by The Associated Press. The rally came as markets tracked Anthropic’s filing for an initial public offering, renewing interest in the artificial intelligence sector. Bank of Korea data released the same day showed the economy grew 1.0% quarter-on-quarter in the third quarter, exceeding economists’ expectations. That puts chipmakers’ performance in an economic context supported by demand for semiconductors and manufacturing equipment. The index had closed at 5,469.47 on October 26, before the rise recorded at midday the following day.
The two companies posted stronger gains than the index in the same snapshot, with Hynix up 7% versus Samsung’s 4.8%, while the KOSPI advanced 3.6%. Trading data for October 26 showed SK Hynix’s dollar-denominated instrument closing at $142.62 and Samsung’s at $4,110. These are dollar-denominated trading instruments, not the shares’ local prices in Korea. The KOSPI closed at 5,469.47 that day. The comparison between the previous close and the midday snapshot shows Tuesday’s move followed a session that ended at a lower level, while the stock and index gains remained intraday readings.
On the economic front, gross domestic product growth accelerated to 1.0% quarter-on-quarter in the third quarter, compared with a 0.6% increase in the second quarter, and exceeded the average economist forecast of 0.7%, according to Bank of Korea data cited by Reuters. Year-on-year, the economy grew 3.4%, after 3.7% in the previous quarter. Economists had expected annual growth of 3.0%. The difference between the quarterly and annual comparisons means the pace of growth improved between the two quarters on a quarterly basis, while slowing year-on-year. The quarterly reading’s outperformance against expectations provided a supportive backdrop for market sentiment on a day of gains in Korean stocks.
Exports were among the main drivers of activity, rising 2.3% quarter-on-quarter in the third quarter amid demand for semiconductors, machinery and electrical equipment, Reuters reported. Facility investment rose 4.1%, driven by machinery equipment, including semiconductor manufacturing equipment. Private consumption, by contrast, fell 0.2% over the same period, highlighting the uneven contribution to growth from production- and export-related activity and household spending. Reuters also reported that imports rose 2.4% in the third quarter. These indicators link the Korean economy’s performance to external demand for chips and corporate spending on production capacity, two areas directly connected to Hynix and Samsung’s presence in the market.
The export backdrop extended to cumulative trade figures: South Korea’s exports exceeded $800 billion from January to September, surpassing the previous year’s annual record, Reuters reported. The agency added that exports were on track to exceed $1 trillion during 2026. The figures place the chip sector within a broader trade upswing, alongside demand for machinery and electrical equipment reflected in third-quarter data. In the United States, the S&P 500 rose 0.5% in morning trading on October 26 after Anthropic announced it had filed for an IPO, while U.S. stock futures also received a brief boost, Reuters reported. This suggests the IPO news coincided with improved sentiment toward technology stocks, without proving on its own that it caused gains in the Korean market.
Attention turns this week to results from major technology companies, with Alphabet and Microsoft scheduled to report quarterly results on Wednesday, followed by Amazon on Thursday, according to The Associated Press. The announcements come after a rise in Korean chip stocks and renewed interest in financing artificial intelligence companies through public markets. Investors are watching major companies’ results as they track demand for technology and artificial intelligence. In Korea, third-quarter data already showed higher exports and facility investment, alongside a decline in private consumption. U.S. company results remain the next dated milestone on this week’s calendar after the Korean trading snapshot on October 27.