South Korean shares post biggest gain in 6 weeks as chipmakers rebound

Samsung Electronics

Yesterday 07:50

KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N46701C
SEOUL, Oct 21 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rebounded more than 3% on Wednesday and posted their biggest daily jump in 6 weeks, as strong exports and upbeat earnings forecasts improved investor sentiment around AI stocks. 
** The benchmark KOSPI .KS11 closed up 182.92 points, or 3.29%, at 5,735.66, rebounding from Tuesday's close at a 6-month low and marking the biggest daily percentage rise since September 7. 
** South Korea's exports more than doubled in the first 20 days of this month from a year earlier, led by record chip sales driven by global AI investment, customs data showed.
** Super Micro Computer SMCI.O surged in after-hours trading on Tuesday after the server maker forecast quarterly revenue and profit margin well above Wall Street estimates on relentless AI data centre demand. The upbeat outlook also lifted other AI-related stocks.
** Chipmaker Samsung Electronics 005930.KS rose 5.67%, while peer SK Hynix 000660.KS gained 5.81%.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS slid 0.60%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 0.16% and 1.69%, respectively.
** Steelmaker POSCO Holdings 005490.KS shed 0.33%, while drugmaker Samsung BioLogics 207940.KS rose 1.87%.
** AI infrastructure firm Elice Group 0158S0.KQ surged 30%, rebounding from a slump in its market debut on Tuesday.
** Of the total 915 traded issues, 371 shares advanced, while 491 declined.
** Foreigners were net buyers of shares worth 660.0 billion won ($498.38 million).
** The won was quoted at 1,325.2 per dollar on the onshore settlement platform KRW=KFTC, 0.06% higher than its previous close at 1,326.0.
** In money and debt markets, December futures on three-year treasury bonds KTBc1 gained 0.03 point to 103.09.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 1.1 basis points to 3.824%, while the benchmark 10-year yield KR10YT=RR fell by 5.6 basis points to 4.160%.

($1 = 1,324.2900 won)

 (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)
 ((jihoon.lee@thomsonreuters.com;))