Home > Business > Finance

Kospi closes over 1% higher on chip gains; won declines

Published: 16 Mar. 2026, 17:11

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 5,549.85 points on March 16, up 62.61 points, or 1.14 percent, from the previous trading session. [YONHAP]

Shares finished over 1 percent higher Monday on gains in chipmakers, snapping a two-day losing streak, despite heightened uncertainty over hostilities in the Middle East that continued to keep oil prices elevated. The local currency lost ground against the greenback.

After choppy trading, the Kospi rose 62.61 points, or 1.14 percent, to close at 5,549.85.

Trading volume was heavy at 1.07 billion shares worth 21.6 trillion won ($14.4 billion), with losers far outpacing gainers 642 to 250.

Foreign investors sold a net 848.1 billion won, while individuals and institutions bought a net 717.5 billion won and 89.7 billion won, respectively.

"The Kospi outperformed other Asian markets as semiconductor stocks advanced, driven by growing expectations ahead of the upcoming GTC event hosted by Nvidia and the earnings release from Micron Technology," said Lee Kyoung-min, an analyst at Daishin Securities.

Nvidia hosts its GTC conference at Silicon Valley this week, where it is expected to show off the latest advances in chips and AI infrastructure.

Most Asian markets closed lower, as global crude prices continued to fluctuate as U.S. President Donald Trump increased pressure on nations to help reopen the Strait of Hormuz.

In Seoul, most large large-cap shares closed mixed, with chip shares leading the gains.

Tech giant Samsung Electronics rose 2.83 percent to 188,700 won, while SK hynix added 7.03 percent to 974,000 won.

In contrast, auto shares closed in negative territory. Top automaker Hyundai Motor fell 2.13 percent to 506,000 won and its smaller affiliate Kia lost 1.4 percent to 162,000 won.

The local currency depreciated 3.8 won from the previous session to trade at 1,497.5 against the greenback at 3:30 p.m.

The won initially fell past the 1,500-won level against the dollar early Monday but later trimmed its losses.

Yonhap