South Korea's benchmark Korea Composite Stock Price Index (KOSPI) closed 220.28 points, or 4.39 percent, higher at 5,239.13 on Tuesday, 10 November 2026, snapping three consecutive sessions of sharp losses. The rebound was driven by a surge in technology and semiconductor shares, while a sharp fall in crude oil prices — triggered by signals of a potential de-escalation in the Middle East — provided an additional tailwind.

Tech Stocks Lead the Charge

Market bellwether Samsung Electronics jumped 4.74 percent to 198,000 won, while chipmaker SK hynix soared 6.69 percent to 1.2 million won. Samsung Electro-Mechanics advanced 4.63 percent to 882,000 won and SK Square, the parent company of SK hynix, climbed 5.26 percent to 760,000 won.

The gains tracked a strong overnight session on Wall Street, where the PHLX semiconductor index rose 6.85 percent. Kim Seok-hwan, an analyst at Mirae Asset Securities, noted that 'U.S. semiconductor shares rose for the second consecutive session and the PHLX semiconductor index increased sharply, boosting South Korean stocks within the semiconductor value chain.'

Oil Price Drop Lifts Airlines

US President Donald Trump told reporters overnight that he is not prepared to resume military strikes against Iran, a statement that pulled crude oil prices sharply lower. The development proved a major windfall for South Korean airlines, which are heavily exposed to jet fuel costs.

Korean Air surged 11.51 percent to 32,450 won and Asiana Airlines spiked 11.68 percent to 8,700 won, ranking among the session's biggest winners. Defence major Hanwha Aerospace rose 3.13 percent to 659,000 won, and battery maker LG Energy Solution advanced 3.93 percent to 330,500 won.

Nvidia Slump Clouds Semiconductor Outlook

Not all semiconductor news was positive. Nvidia slumped 4.2 percent after the company's board announced it would launch a probe into Chief Executive Officer Jensen Huang following his admission of an affair with a purported Chinese spy. The development injected uncertainty into the broader chip sector, though South Korean chipmakers remained insulated on the day.

Market Mechanics and Currency

After opening 4.55 percent higher, the Korea Exchange activated a buy-side sidecar for the main bourse at 9:06 a.m., suspending programme trading for KOSPI-listed shares for five minutes — a circuit-breaker mechanism triggered by rapid upward movement. Trade volume was relatively light at 241 million shares worth 16.2 trillion won (approximately US$12.1 billion). Winners sharply outnumbered losers, 714 to 174.

Foreign investors returned to net buying, scooping up a net 365.9 billion won worth of shares, while institutions purchased a net 489 billion won. Retail investors, however, sold a net 1.3 trillion won. The Korean won strengthened to 1,337.5 against the US dollar as of 3:30 pm, up 9.6 won from the previous session's close. Bond yields eased marginally, with the three-year Treasury yield falling 0.6 basis points to 3.633 percent.

Whether the rally sustains will depend on the trajectory of US-Iran diplomacy and the next wave of US semiconductor earnings guidance.