South Korean shares start week higher as chipmakers rise on upbeat data

South Korean shares opened the week on a high note on Monday, buoyed by chipmakers and upbeat domestic export figures. The KOSPI index climbed 101.16 points, or 1.47%, to reach 6,995.39 as of 0134 GMT. Although US stocks finished the prior week with mixed results, the Philadelphia Semiconductor Index saw a 2.8% increase. Domestic export data for the first 20 days of the month revealed a record-high level, driven by a surge in chip sales.

Samsung Electronics and SK Hynix, prominent chipmakers, led the market upward with gains of 4.02% and 0.92%, respectively. LG Energy Solution, a battery manufacturer, and Hyundai Motor and Kia Corp, major automakers, underperformed, slipping 2.75% and 1.10%-1.64%, respectively. POSCO Holdings, a steel producer, dropped 0.77%, while Samsung BioLogics, a pharmaceutical company, rose 0.14%.

Of the 909 listed companies, 310 experienced gains, while 549 saw declines. Foreign investors bought shares worth 113 billion won ($81.64 million), representing a net inflow. The South Korean won was traded at 1,384.9 per dollar onshore, marking a 0.04% increase from its prior close at 1,385.5. In terms of bonds, December futures for three-year treasury bonds fell by 0.05 points to 102.24.

The yield on a three-year Korean treasury bond increased by 1.0 basis point to 4.037%, while the 10-year yield decreased by 0.5 basis points to 4.455%.