South Korean shares end higher after SK Hynix puts US IPO plan on hold

By Reuters News06:52 (UTC), 23 October 2026 Updated

SEOUL, Oct 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares recouped early losses to end higher on Friday, as chipmaker SK Hynix jumped after cancelling a share sale plan for its US unit.

** The benchmark KOSPI .KS11 closed up 16.53 points, or 0.30%, at 5,550.30, recouping early losses of 4.12%.

** The index opened lower as chipmakers tracked overnight losses in US chip stocks. On Thursday, the Philadelphia Semiconductor Index .SOX plunged 6.7% on AI worries.

** SK Hynix 000660.KS jumped 4.42%, after it put on hold a planned US listing for its Solidigm chip unit due to market volatility.

** Peer Samsung Electronics 005930.KS closed up 0.47%, after falling more than 5% earlier in the session.

** "Wall Street worries about AI investment were priced in by domestic stocks in the previous session, and investor sentiment improved around SK Hynix on the news of its IPO plan being withdrawn," said Lee Kyoung-min, an analyst at Daishin Securities.

** South Korea's economy grew slightly faster in the third quarter than in April to June, as booming semiconductor exports and AI-related investment helped offset still-uneven domestic demand, a Reuters poll showed.

** Among other index heavyweights, battery maker LG Energy Solution 373220.KS slid 1.79%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 1.99% and down 1.75%, respectively.

** Of the total 915 traded issues, 171 shares advanced, while 721 declined.

** Foreigners were net sellers of shares worth 994.1 billion won ($750.64 million).

** The won was quoted up 0.14% at 1,324.6 per dollar on the onshore settlement platform . Earlier in the day, the country's central bank governor said there was room for the won to strengthen more and a stronger currency was appropriate.

** The most liquid three-year Korean treasury bond yield fell by 4.0 basis points to 3.800%, while the benchmark 10-year yield fell by 5 basis points to 4.094%.

($1 = 1,324.3400 won)