Japanese and South Korean stocks rose after opening sharply higher, with the KOSPI approaching the 7,000 mark and the Nikkei Average breaking above 66,000. Samsung Electronics, SK hynix, SoftBank and Kioxia all surged more than 5%.
On 7 September, Japanese and South Korean stock markets rose broadly after opening sharply higher. The KOSPI gained 3.5% to 6,921.17 points, approaching the 7,000 mark. SoftBank rose 6.82% to ¥5,971, while Kioxia gained 7.93% to ¥58,780.
The Nikkei Average rose 2.07% to 66,366.55 points. Samsung Electronics was up 4.11% and SK hynix was up 5.46%. Against the backdrop of gains in semiconductor stocks, positive sentiment toward US technology stocks and expectations for semiconductor demand drew funds into the Japanese and South Korean markets.
The moves reported today, centered on the KOSPI approaching the 7,000 mark and sharp gains in major stocks, suggest that risk appetite has strengthened across the market. Various factors are reflected in the market reaction following the US employment data released on 4 September, but the strength of the South Korean and Japanese markets is once again attracting attention.