Seoul stocks rose Monday as investors scooped up semiconductor shares, offsetting concerns over renewed tensions in the Middle East and elevated oil prices. The Korean won strengthened against the US dollar.
The benchmark Korea Composite Stock Price Index gained 113.49 points, or 1.65 percent, at 7,007.72.
The index extended its winning streak for the third consecutive session, buoyed by improving investor sentiment toward artificial intelligence and semiconductor stocks.
Still, elevated crude oil prices remained a source of concern amid persistent inflationary and geopolitical risks in the Middle East. Brent crude traded over $100 a barrel.
Trade volume was light at 232.76 million shares worth 19.69 trillion won ($14.26 billion), with decliners outnumbering advancers 550 to 310.
Institutions bought a net 1.49 trillion won, while foreigners and individuals sold a net 181.89 billion won and 2.98 trillion won, respectively.
Investor sentiment toward AI-related stocks remained upbeat on expectations of continued strong demand, helping fuel gains in semiconductor shares.
"The local stock market was bullish as semiconductor shares rallied, led by institutional net buying," Lee Kyoung-min, an analyst at Daishin Securities, said.
Market bellwether Samsung Electronics jumped 4.98 percent to 274,000 won, while its chip rival SK hynix gained 0.59 percent to 1.87 million won.
SK Square, the parent company of SK hynix, surged 4.45 percent to 1.12 million won.
In contrast, leading automaker Hyundai Motor fell 1.64 percent to 359,000 won, while battery maker LG Energy Solution shed 3.3 percent to 352,000 won.
The Korean won was quoted at 1,381 won per US dollar as of 3:30 p.m., up 4.5 won from the previous stock market session's close. (Yonhap)
