Korean Stock ETF Surges on AI Chip Demand, Export Milestone

Stock News09-07 09:51

Exchange-traded funds tracking South Korean equities advanced strongly this morning, driven by a surge in semiconductor shares and record export data. The CSOP SK hynix Daily (2x) Leveraged Product (07709) climbed 11.2% to HK$39.32, while the CSOP Samsung Electronics Daily (2x) Leveraged Product (07747) rose 8.14% to HK$76.24.

On September 7, the Korea Composite Stock Price Index (KOSPI) jumped more than 3%, with SK hynix advancing nearly 6% and Samsung Electronics gaining close to 4%. The rally follows OpenAI's launch last week of its latest AI model, GPT-6 Astra, which the company touts as its best-performing iteration yet, capable of handling a broader range of tasks than previous versions.

Market analysts suggest that Astra's ability to directly operate computers and software, performing complex functions such as coding, 3D modeling, and presentation creation for users, is expected to drive significant consumption of memory chips and flash storage, thereby fueling the current memory market rally.

Adding to the positive sentiment, South Korean President Lee Jae-myung reported on September 5 that the country's cumulative exports for this year had reached $709.4 billion by 1:00 PM on Saturday, surpassing the full-year record of $709.3 billion set in 2025. If the current robust export momentum persists, annual exports could reach $1 trillion by early December.

Goldman Sachs' chief Asia-Pacific equity strategist, Timothy Moe, maintains a target of 12,000 points for the KOSPI, arguing that the market underestimates how long the AI boom will continue to bolster South Korean memory chip manufacturers.

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