Japanese and South Korean stock markets rose sharply as the Federal Reserve’s policy announcement eased liquidity concerns, with the KOSPI climbing to around 6,900. Buying spread across semiconductor-related stocks, with SK hynix and Kioxia posting particularly strong gains.
Japanese and South Korean stock markets ended sharply higher on 18 September, supported by easing liquidity concerns following the Federal Reserve’s policy announcement and a rebound in U.S. technology stocks. The KOSPI rose 2.66%, while the Nikkei Average closed 1.38% higher. Semiconductor-related stocks attracted buying, with SK hynix and Kioxia recording substantial gains.
The KOSPI briefly broke above the 6,900 level before closing at 6,894.23 points. Samsung Electronics closed up 3.37%, while SK hynix surged 6.42% to finish at 1,857,000 won.
The Nikkei Average closed at 65,018.73 points. Kioxia surged 9.4% to finish at ¥54,570, while SoftBank also edged higher. The Federal Reserve’s monetary policy announcement eased concerns over global liquidity, while Japan’s corporate governance reforms and the Bank of Japan’s gradual pace of interest-rate increases also supported share prices.
According to people familiar with the matter, information has emerged that SK hynix subsidiary Solidigm is considering building a NAND flash memory manufacturing plant in the United States. There has been no official confirmation, however, and the extent of any rebound in share prices could be affected by developments going forward.