South Korean shares hit 1-month high as chipmakers jump

According to Business Recorder, South Korean shares climbed more than 2% on Tuesday to reach their loftiest level in a month. Chipmakers led the advance after US peers rallied overnight on optimism about demand for artificial intelligence. The benchmark KOSPI added 190.63 points, or 2.73%, to 7,168.57 by 0127 GMT, marking a sixth straight session of gains and its highest intraday level since July 15.

Samsung Electronics rose 3.01% and SK Hynix gained 7.72%, providing most of the index's lift. LG Energy Solution, a battery producer, slipped 2.03%, while POSCO Holdings shed 0.75% and Samsung BioLogics dropped 1.03%. Foreign investors were net buyers of shares worth 1.1 trillion won, equal to $780.58 million, and the won strengthened to 1,409.5 per dollar.

Investors are looking ahead to Nvidia's results due next week, from a company ranked among the globe's most valuable. In debt markets, the 10-year yield climbed 10.2 basis points to 4.402%, while the most actively traded three-year yield rose 9.5 basis points to 3.864%.