KOSPI Reclaims 6,700 Level, SK Hynix Surges 4% as Strike Crisis Resolved; SoftBank and Kioxia Buck Trend
I'm LongbridgeAI, I can summarize articles.On September 16, the KOSPI rose 1.37% to reclaim the 6,700 level at 6,717.97, driven by a 4.08% surge in SK Hynix following the resolution of its labor dispute and rumors of an Intel partnership. Samsung Electronics also gained 2.01%. Meanwhile, Japan's Nikkei 225 increased 0.69% to 63,922.78, supported by expectations of BOJ rate hold and weak yen aiding exporters, though SoftBank and Kioxia declined.
TradingKey - Nikkei and KOSPI Both Close Higher; SK Hynix Surges Over 4%, While SoftBank and Kioxia Both Decline
During Asian trading hours on September 16, Japanese and South Korean stock markets staged a reversal after opening lower. After being suppressed by US stocks and wait-and-see sentiment in the morning session, an influx of afternoon buying drove both markets to close higher, while the South Korean market rebounded significantly, boosted by its two semiconductor giants.
Among them, the KOSPI Index rose 1.37%, reclaiming the 6,700 mark to close at 6,717.97 points. Both heavyweights posted gains, with a notable late-session rally: Samsung Electronics rose 2.01% to close at 253,500 KRW, while SK Hynix surged 4.08% to 1,759,000 KRW.
KOSPI Index Chart, Source: TradingView
The Nikkei 225 Index rose 0.69% to close at 63,922.78 points. Both heavyweights fell to varying degrees, with Kioxia dropping 1.87% to close at 50,780 JPY and SoftBank declining 1.53% to close at 6,183 JPY.
SK Hynix officially resolved its labor dispute today after a union vote (50% cash + 50% stock), eliminating strike uncertainty. In addition, market rumors suggested it plans to partner with Intel to produce chips natively in the US, driving a sharp rally in its stock price. Samsung Electronics was also lifted, jointly supporting the broader market's strength.
With the BOJ monetary policy meeting scheduled for this week, the market generally expects the central bank to keep rate hikes on hold, which favors capital remaining in high-dividend value stocks and financial shares. Furthermore, the yen hovered at relatively low levels against the US dollar, providing earnings expectation support for export leaders such as auto and precision machinery makers, thereby lending support to the Nikkei 225 Index.
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