Seoul Shares Rise as Investors Engage in Bargain Hunting

On October 2, 2026, South Korean stocks experienced a modest increase, driven by investor interest in major technology shares. This uptick came as a result of bargain hunting, which helped to alleviate some concerns regarding rising interest rates and fluctuating oil prices.

The benchmark Korea Composite Stock Price Index (KOSPI) rose by 32.39 points, or 0.45%, closing at 7,003.74. This positive trend was supported by a slight recovery in U.S. stock markets, where major indices ended higher after a period of volatility.

Despite the mixed performance of market heavyweights, with Samsung Electronics remaining stable and SK Hynix showing a slight gain, analysts noted that expectations for an earnings recovery are bolstering investor confidence. Han Ji-young from Kiwoom Securities remarked, "Expectations for an earnings recovery are improving, providing upward momentum."

In currency markets, the South Korean won appreciated against the U.S. dollar, closing at 1,350.6 won per dollar, reflecting a 7.8 won increase from the previous trading session. This rise in the won is indicative of the overall positive sentiment in the market, despite ongoing macroeconomic challenges.