The benchmark KOSPI stood at 7,135.97 as of 10:11 a.m., up 1.83 percent, after reaching 7,169.01 earlier in the session.
Foreign investors bought a net 131.2 billion won ($96 million) of KOSPI shares, while institutions purchased 344.2 billion won and retail investors sold 800.7 billion won.
The advance followed strong gains on Wall Street overnight as enthusiasm for artificial intelligence stocks revived and oil prices and U.S. Treasury yields eased.
The S&P 500 rose 1.49 percent to 7,764.70, while the Nasdaq Composite surged 2.26 percent to 27,122.09. The Dow Jones Industrial Average gained 0.71 percent to 52,048.83.
Semiconductor stocks led the U.S. rally. Advanced Micro Devices jumped about 10 percent, while the Philadelphia Semiconductor Index climbed 4.3 percent.
The benchmark U.S. 10-year Treasury yield retreated to around 4.95 percent, easing pressure on growth and technology stocks.
Brent crude fell 3.4 percent to $100.34 a barrel as investors watched for signs of diplomatic progress in the Middle East. The decline eased concerns that energy costs could keep inflation and interest rates elevated.
Tuesday’s gains built on Monday’s advance, when the KOSPI rose 1.65 percent to 7,007.72 and closed above 7,000 for the first time in seven trading sessions.
Samsung Electronics rose 2.83 percent to 281,750 won, while SK hynix climbed 3.59 percent to 1,935,000 won. Samsung Electronics’ preferred shares gained 2.64 percent to 213,500 won.
Other technology shares also advanced. SK Square rose 3.46 percent to 1,166,000 won, while Samsung Electro-Mechanics surged 8.26 percent to 1,547,000 won.
Among other large-cap stocks, LG Energy Solution gained 0.43 percent to 353,500 won and Hyundai Motor rose 1.53 percent to 364,500 won. Samsung C&T added 1.22 percent to 372,000 won.
Samsung Biologics slipped 0.07 percent to 1,401,000 won, while KB Financial fell 1.13 percent to 175,500 won.
The junior KOSDAQ rose 7.94 points to 844.21 as of 9:38 a.m.
Retail investors bought a net 88.8 billion won of KOSDAQ shares, while foreign investors sold 73.1 billion won and institutions sold 13.7 billion won.
Among its largest stocks, drug-delivery technology company Alteogen was unchanged at 255,000 won.
EcoPro, the holding company of a battery materials group, rose 0.63 percent to 80,400 won. Cathode-materials maker EcoPro BM gained 0.19 percent to 103,600 won.
Semiconductor-related shares were among the stronger performers. Chip and display equipment makers Jusung Engineering and Wonik IPS rose 2.68 percent to 211,000 won and 1.78 percent to 131,300 won, respectively.
Simmtech, which makes printed circuit boards for chips and electronic devices, surged 18.78 percent to 155,250 won.
Robot developer Rainbow Robotics gained 1.48 percent to 446,000 won.
The Korean won strengthened to 1,361.20 per dollar from 1,381.0 a day earlier.
Attention now turns to speeches by Federal Reserve officials for further clues on the U.S. interest-rate outlook.
New York Fed President John Williams and Fed Vice Chair Philip Jefferson are scheduled to speak later Tuesday, while Richmond Fed President Tom Barkin is due to speak early Wednesday Seoul time.
AJP Takeaways
- The KOSPI rose 1.83 percent to 7,135.97 as of 10:11 a.m. Tuesday after gaining more than 2 percent earlier in the session.
- Foreign and institutional investors were net buyers as Samsung Electronics and SK hynix gained 2.83 percent and 3.59 percent, respectively.
- Lower U.S. Treasury yields and oil prices supported sentiment following a U.S. chip rally that lifted the Philadelphia Semiconductor Index 4.3 percent.
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