Korean benchmark Kospi index The company rose about 31%, its biggest monthly gain since January 1998, on a rally in tech stocks that helped markets avoid geopolitical tensions in the Middle East.
The index’s strong gains were driven primarily by optimism about the artificial intelligence boom, with semiconductor giants SK Hynix and Samsung Electronics leading the way, rising 60% and 35% month-on-month, respectively.
HSBC last week upgraded South Korea to “neutral” from “underweight,” saying recent foreign capital outflows have helped ease crowded market positioning and reduce downside risks from geopolitical volatility.
HSBC said that beyond major semiconductor manufacturers, broader growth themes in areas such as energy storage, shipbuilding, defense and nuclear power were also supporting the market’s rise.
The milestone rally came as broader Asia-Pacific markets, including the Kospi, fell on Thursday, weighed down by a sharp rise in oil prices that hit a four-year high before tapering gains on concerns about possible U.S. military action against Iran and lingering uncertainty after the Federal Reserve left interest rates unchanged.
The Kospi fell 1.38% to 6,598.8, and the small-cap Kosdaq fell 2.29% to 1,192.35.
In Australia, S&P/ASX 200 It fell 0.24% to close at 8,665.8.
The Japanese market, which resumed trading after the holiday, fell. benchmark Nikkei Stock Average fell 1.06% to close at 59,284.92, while TOPIX fell 1.19% to 3,727.21.
hong kong Hang Seng Index Mainland China’s CSI300 index closed flat at 4,807.30, down 1.27% in the last hour of trading.
Oil prices rose after Axios reported that U.S. Central Command plans to present a plan for possible military action against Iran to U.S. President Donald Trump, citing two sources familiar with the matter.
President Trump has previously reportedly rejected Tehran’s offer to reopen the Strait of Hormuz and suggested the naval blockade would continue until a broader nuclear deal is reached.
International benchmark June futures brent Oil prices were last up 3.4% on Thursday at $121.98 per barrel, while the U.S. west texas intermediate It added 1.21% to $108.22.
Brent crude oil has soared to its highest level since mid-2022 as Middle East conflicts disrupt supplies, according to LSEG data.
In the United States, futures trading is S&P500 I added 0.3%, Nasdaq 100 futures It increased by 0.5%. Dow Jones Industrial Average Futures It fell 128 points (0.2%).
One night in America Dow Jones Industrial Average bottom closed. The 30-stock index fell 280.12 points (0.57%) to close at 48,861.81, marking the fifth consecutive day of decline. of S&P500 It fell 0.04% to close at 7,135.95. Nasdaq Composite It rose 0.04% to 24,673.24.
—CNBC’s Sean Conlon and Lisa Kailai Han contributed to this report.
