Seoul Stocks End Higher on Bargain Hunting

On October 23, 2026, South Korean stocks experienced a modest uptick after a significant drop the previous day. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 16.53 points, or 0.3 percent, closing at 5,550.30. This increase came as investors engaged in bargain hunting, particularly in major chip stocks, amidst ongoing economic uncertainties.

The trading session began with a 2.36 percent decline, but individual investors shifted from net selling to net buying as the day progressed. The overall trading volume was relatively low, with 236 million shares valued at approximately 16.5 trillion won (about $12.4 billion). Notably, decliners outnumbered advancers, with 716 stocks falling compared to 173 that gained.

In the backdrop of mixed performances in U.S. markets, where major tech stocks faced losses, South Korean investors remained cautious yet optimistic. Samsung Electronics saw a slight increase of 0.47 percent, while SK Hynix rebounded by 4.42 percent after initial losses, following the announcement to suspend its U.S. subsidiary's IPO plans.

The Korean won also strengthened against the U.S. dollar, indicating a positive shift in market sentiment. Analysts suggest that concerns regarding AI investments had already been factored into the market, allowing for a recovery as investors sought opportunities in undervalued stocks.