03.07.202601:53:46UTC+00South Korean Shares Rebound on Bargain Hunting

The benchmark KOSPI climbed more than 1% to around 7,760 on Friday, retracing part of the previous session’s losses as bargain hunting supported heavyweight semiconductor stocks. Samsung Electronics and SK hynix advanced nearly 4% and 2%, respectively, after steep declines the day before, helping to lift the index despite ongoing softness in global chip names. Other notable gainers included Hanwha Aerospace (4.2%), KB Financial Group (3.4%), Shinhan Financial Group (4.9%), LG Energy Solution (1.3%), and Kia Corporation (1.5%).

Samsung Electronics remained in the spotlight following reports that AI startup Anthropic is in talks with the company to develop custom AI chips, providing additional support for the semiconductor sector. Overall sentiment was further buoyed by weaker-than-expected US June employment data, which reinforced expectations that the Federal Reserve may ease monetary policy in the coming months, improving risk appetite across markets.