The benchmark KOSPI stood at 7,093.41 as of 9:51 a.m., up 1.08 percent from the previous session. The index had climbed as high as 7,144.02 earlier in the morning before paring its gains.
Institutions bought a net 340.5 billion won of KOSPI shares, while foreign investors purchased 99.9 billion won ($74 million). Retail investors sold a net 563.6 billion won.
Seoul’s stock markets will close Thursday and Friday for Chuseok, trading places with Tokyo, which reopens Thursday after a three-day holiday.
The KOSPI’s advance followed continued strength in U.S. technology and semiconductor stocks. The Nasdaq Composite rose 0.45 percent to a record high overnight, while the Dow Jones Industrial Average fell 0.36 percent and the S&P 500 was nearly unchanged.
Chip shares outperformed the broader market. Nvidia gained 0.66 percent and Micron Technology jumped 5.00 percent, helping lift the Philadelphia Semiconductor Index 2.06 percent.
Sentiment also drew support from signs of diplomatic progress between the United States and Iran. The two sides held about three hours of talks at the United Nations in New York, with another meeting expected soon.
The renewed dialogue and improving Middle East oil flows eased supply concerns. Brent crude traded at $99.92 a barrel and West Texas Intermediate at $95.33.
Samsung Electronics rose 2.71 percent to 284,000 won Wednesday morning, while SK hynix gained 1.90 percent to 1,875,000 won. Samsung Electronics’ preferred shares climbed 3.31 percent to 218,500 won.
Other technology-related shares also advanced. SK Square rose 3.80 percent to 1,176,000 won, while Samsung Electro-Mechanics gained 2.29 percent to 1,520,000 won.
Among other large-cap stocks, LG Energy Solution rose 1.85 percent to 357,000 won and Hyundai Motor added 0.69 percent to 363,000 won. Samsung C&T climbed 2.18 percent to 375,000 won.
Samsung Biologics fell 0.72 percent to 1,381,000 won, while KB Financial edged up 0.06 percent to 175,800 won.
The won strengthened to 1,348.10 per dollar from 1,358.20 a day earlier.
Holiday caution could still cap gains. On Tuesday, the KOSPI rose as much as 2.34 percent to 7,171.44 before surrendering most of its advance as investors took profits. It closed 0.15 percent higher at 7,017.91.
The junior KOSDAQ rose 11.58 points, or 1.39 percent, to 845.96 as of 9:30 a.m. Wednesday.
Retail investors bought a net 43.3 billion won of KOSDAQ shares, while foreign investors sold 21.0 billion won and institutions sold 15.1 billion won.
Among its largest stocks, biotechnology company Alteogen rose 1.20 percent to 252,500 won. EcoPro, the holding company of a battery materials group, gained 0.87 percent to 80,800 won. Cathode materials maker EcoPro BM climbed 1.44 percent to 105,800 won.
Semiconductor and display equipment stocks also advanced. Jusung Engineering rose 1.23 percent to 206,000 won, while Wonik IPS jumped 9.21 percent to 142,300 won. Laser equipment maker EO Technics gained 1.90 percent to 482,500 won.
Simmtech, which makes printed circuit boards and semiconductor packaging substrates, rose 1.22 percent to 149,900 won. Robot developer Rainbow Robotics gained 1.48 percent to 444,500 won.
Trading has also expanded beyond regular hours since the Korea Exchange launched its new after-market this month. Average daily trading value reached 1.1 trillion won in its first week from Sept. 14 to 18, equivalent to 4.6 percent of regular-session turnover.
Retail investors accounted for 90.4 percent of after-market trading, compared with 6.7 percent for foreign investors and 2.6 percent for institutions.
The exchange will assign nine staff members to a special monitoring team through the end of the year to track unusual trading across the after-market and regular session.
Elsewhere in the region, Japan’s stock market remained closed Wednesday for the Autumnal Equinox Day holiday.
Investors are also watching U.S.-China relations as Chinese President Xi Jinping begins a state visit to the United States Wednesday ahead of a summit with President Donald Trump in Washington Thursday. Trade, artificial intelligence and geopolitical issues are expected to be among the main topics.
AJP Takeaways
- The KOSPI rose 1.08 percent to 7,093.41 as of 9:51 a.m. Wednesday, led by institutional buying and chip stocks following gains in U.S. semiconductor shares.
- Easing oil supply concerns and renewed U.S.-Iran dialogue supported sentiment ahead of Seoul’s Sept. 24–25 Chuseok market closure and Thursday’s U.S.-China summit.
- The Korea Exchange’s new after-market averaged 1.1 trillion won in daily trading during its first week, with retail investors accounting for 90.4 percent of activity.
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