Home > Business > Finance

Chipmakers lead gains as market anticipates major earnings reports

Published: 27 Apr. 2026, 17:33 Updated: 27 Apr. 2026, 18:37

LEE JIAN
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 6,615.03 points on April 27, up 139.4 points, or 2.15 percent from the previous trading session. [YONHAP]

Seoul stocks surged to a record closing high on Monday, powered by a rally in chipmakers and power equipment companies as investors positioned ahead of a big week for global tech earnings.

The benchmark Kospi closed up 139.4 points, or 2.15 percent, to 6,615.03 — its second record high in three trading days, after hitting 6,475.81 on Thursday.

Trade volume was heavy at 835.6 million shares worth 33 trillion won ($22.4 billion), with winners outnumbering losers 495 to 357.

Foreigners and institutional investors were net buyers, purchasing a combined net 1.99 trillion won worth of equities. Retail investors off-loaded a net 1.97 trillion won.

The record close comes amid growing anticipation over corporate earnings, driven by strong results from major tech companies in the AI supply chain, Lee Kyoung-min, an analyst from Daishin Securities, said. “We are seeing anticipation over companies related to AI data centers, particularly those in the AI value chain, such as semiconductor and power equipment companies,” Lee added.

Five of the “Magnificent Seven” companies are expected to release first quarter earnings this week, including Apple, Alphabet and Microsoft.

Geopolitical uncertainties from the Middle East, which had been weighing on the local market, appear to be easing as well.

“Hopes are rising that Iran will revisit Pakistan and convey cease-fire conditions, even as US-Iran negotiations have broken down and clashes between Israel and Hezbollah continue,” said Shinhan Securities analyst Kang Jin-hyuk.

Most large-cap shares in Seoul finished higher, with chipmakers and power equipment companies leading the charge.

Samsung Electronics gained 2.28 percent to close at 224,500 won, while SK hynix climbed 5.73 percent to 1,292,000 won. Both chipmakers rode the wave of Intel's better-than-expected first-quarter results.

Power equipment stocks were similarly buoyant. LS Electric soared 12 percent to 255,500 won and Hyosung Heavy Industries surged 10.95 percent to 3,941,000 won.

Battery stocks were the exception, giving back gains on profit-taking. LG Energy Solution dropped 3.53 percent to 464,000 won and Samsung SDI slipped 0.94 percent to 635,000 won.

The Korean won weakened to 1,472.5 won against the U.S. dollar, up 12 won from the previous session.

BY LEE JIAN,YONHAP [[email protected]]