FX.co ★ KOSPI Rebounds on Chips & Autos

The KOSPI index saw a 0.4% uptick early Wednesday, reaching approximately 2,625 points, as it reversed the losses from the previous day. The rally was predominantly driven by positive movements in the chip and automotive sectors, drawing inspiration from the overnight gains on Wall Street. This optimism stemmed from anticipations of less severe reciprocal tariffs from President Trump. In South Korea, business confidence made a notable recovery in March for the first time in five months, although uncertainty about global trade continued to cast a shadow over April's outlook. Leading the charge among major market players, the semiconductor titan Samsung Electronics rose by 0.8%, while its counterpart, SK Hynix, increased by 1.4%. In the automotive realm, Hyundai Motor accelerated by 3.2% and its affiliate, Kia Corp, by 1.4%, spurred by the group's announcement of a new U.S. investment initiative aimed at mitigating tariff impacts.