Seoul Shares Rise for Second Day on Tech Rally Amid Rate Hike Concerns
Seoul's stock market saw a significant rise for the second consecutive day, driven by technology stocks despite worries about potential interest rate hikes.
Seoul's stock market saw a significant rise for the second consecutive day, driven by technology stocks despite worries about potential interest rate hikes.
On November 11, 2026, Seoul shares ended sharply higher for the second day, largely propelled by a rally in technology stocks. The Korea Composite Stock Price Index (KOSPI) closed up 136.23 points, or 2.6%, reaching 5,375.36. This increase came after a previous gain of 4.39% on Tuesday, indicating a strong performance in the tech sector.
Despite concerns over U.S. inflation potentially prompting the Federal Reserve to tighten monetary policy, local stocks showed resilience. The KOSPI opened lower but quickly rebounded, with technology giants like Samsung Electronics and SK Hynix leading the charge. Samsung saw a 3.57% increase, while SK Hynix rose by 5.36%.
The trading volume was relatively light, with 219 million shares exchanged, but the number of gainers outnumbered losers significantly. Foreign investors were net buyers, purchasing stocks worth 655.26 billion won, while local institutions and individuals sold off some shares.
Market analysts noted that the rally was supported by bargain hunting in AI-related stocks and a decline in oil prices, influenced by comments from former President Trump regarding military actions in the Middle East. Investors are also keeping an eye on upcoming IPOs, further fueling market optimism.
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