Seoul Stocks End Slightly Higher on Bargain Hunting

On October 23, 2026, South Korean shares closed slightly higher after a significant drop in the previous session. Investors took advantage of lower prices, particularly in major chip stocks, amid ongoing concerns over artificial intelligence investments.

The benchmark Korea Composite Stock Price Index (KOSPI) rose by 16.53 points, or 0.3%, closing at 5,550.30. The index had opened 2.36% lower but saw a reversal as individual investors shifted from net selling to net buying during the day.

Trading volume was relatively light, with 236 million shares changing hands, valued at 16.5 trillion won (approximately $12.4 billion). Despite the overall positive movement, decliners outnumbered advancers significantly, with 716 stocks declining compared to 173 that advanced.

Foreign investors sold off a net 98.3 billion won, while institutional and individual investors purchased a net 86.8 billion won and 4.5 billion won, respectively. The mixed performance of U.S. stocks overnight, particularly in technology shares, influenced the market sentiment in Seoul.

Notably, Samsung Electronics saw a modest increase of 0.47%, closing at 215,500 won, while SK Hynix surged by 4.42% to 1.28 million won, recovering from earlier losses. This rebound followed news that SK Hynix had decided to suspend its plans for an IPO of its U.S. subsidiary, Solidigm, addressing concerns about a potential holding company discount.

The Korean won also strengthened against the U.S. dollar, trading at 1,324.6 won as of 3:30 p.m., marking a slight increase from the previous session.