Seoul Shares Surge 3% on Renewed AI Optimism and Easing Oil Prices

On October 27, 2026, Seoul's stock market experienced a remarkable surge, closing 3.09% higher, driven primarily by renewed optimism surrounding artificial intelligence (AI) and a decline in oil prices.

The Korea Composite Stock Price Index (KOSPI) rose by 168.87 points, reaching 5,638.34, as strong foreign buying led to increased market activity. This surge prompted the Korea Exchange to activate a buy-side sidecar, temporarily suspending buy orders for KOSPI-listed shares after a notable rise in futures.

Investor sentiment was bolstered by positive news from AI startup Anthropic, which reported strong revenue growth in its IPO filing. This development reignited interest in AI-related stocks just ahead of significant tech earnings reports and the Federal Reserve's interest rate decision.

Additionally, easing tensions in the Middle East contributed to falling oil prices, further enhancing market confidence. Major technology stocks, particularly in the semiconductor sector, saw substantial gains, with Samsung Electronics rising 4.23% and SK Hynix increasing by 5.18%.

Despite the overall positive market conditions, the Korean won weakened slightly against the U.S. dollar, trading at 1,323.7 won. Analysts noted that foreign and institutional investors were actively purchasing major semiconductor stocks, reflecting a renewed investment sentiment in AI, even amid ongoing macroeconomic concerns.