Samsung, SK Hynix Lead Kospi Higher as Wall Street Faces Tough Opening After Labor Day

Samsung Electronics and SK Hynix climbed alongside a broader South Korean rally Tuesday, even as futures pointed toward a weaker Wall Street open following the Labor Day Weekend.

Wall Street reopens Tuesday after the holiday to a tougher macro backdrop. Last week, the 10-year Treasury yield climbed to its highest level since November 2023, and the 2-year note touched a January 2025 high, as investors weighed the risk that persistent inflation could keep the Federal Reserve cautious.

Kospi Extends AI-Driven Rally

The Kospi rose 1.25% to 7,083.84 by late morning in Seoul, building on Monday's advance of more than 4%, its sharpest single-day move in months, as investors bet that artificial intelligence-related earnings would keep beating expectations.

Samsung Electronics gained 1.48% to 274,000 won, while SK Hynix jumped 3.65% to 1,848,000 won. State-run Korea Electric Power Co. added 3.82%, and refiner SK Innovation rose 1.6%.

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