South Korean shares flat as chip gains balance broader weakness

According to Business Recorder, South Korean shares were broadly unchanged on Tuesday as gains in chipmakers countered declines elsewhere. Measured at 0143 GMT, the benchmark KOSPI had slipped 5.34 points, or 0.08%, to 6,884.40. Samsung Electronics added 1.76% and SK Hynix rose 0.51%.

Most other heavyweights slid, with LG Energy Solution lower by 3.16%, Hyundai Motor shedding 1.55% and Kia Corp dropping 2.47%. Steelmaker POSCO Holdings gave up 3%, while Samsung BioLogics declined 2.36%. Foreign investors were net sellers worth 941.8 billion won, or $692.50 million, and the won traded at 1,360.4 per dollar.

Attention now turns to Micron Technology's results and South Korea's September export figures, due later this week, which may offer further insight into demand for AI chips. A Reuters poll pointed to a 16th straight monthly rise in exports for September, with fewer working days expected to temper the pace of growth. A Samsung executive also projected that high-bandwidth memory could make up close to 30% of DRAM wafer capacity next year, compared with roughly 20% now.