KOSPI Rallies as Chipmakers Lead Gains in Seoul Stocks

Seoul stocks rose sharply on Monday morning, led by gains in major chipmakers. The Korea Composite Stock Price Index (KOSPI) added 106.65 points to 7,000.88 as of 11:20 a.m., an increase of 1.55 percent.

The rally was fueled by strong performances from Samsung Electronics and SK hynix, which rose 4.21 percent and 0.78 percent respectively. In contrast, Hyundai Motor and LG Energy Solution fell 1.1 percent and 3.16 percent, respectively.

Elevated oil prices and Middle East tensions remained a concern, with Brent crude trading at around US$104.68 a barrel. The Korean won traded at 1,386.0 against the U.S. dollar as of 11:12 a.m., down 0.5 won from the previous stock trading session.