Seoul stocks extend winning streak to 5th day on chip rally

SEOUL, June 17 (Yonhap) -- South Korean stocks extended their winning streak for the fifth consecutive session on semiconductors, while investors remained cautious of the U.S. Federal Reserve's rate-setting meeting later this week.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 137.64 points, or 1.58 percent, to 8,864.24, inching closer to the 9,000-point mark.

After opening lower, the index entered positive territory in the afternoon, boosted by buying pressure from retail and institutional investors.

"Risk-on sentiment following the peace agreement between U.S. and Iran is coexisting with a wait-and-see stance ahead of the Federal Open Market Committee meeting," said Lee Kyoung-min, an analyst from Daishin Securities.

Market watchers widely expect the new Fed chair, Kevin Warsh, to make an on-hold decision in the policy meeting Wednesday (local time), Lee said, as a decline in oil prices following the peace deal has eased inflationary pressures.

The new state-run company tasked with implementing Seoul's US$350 billion investment pledge to the United States is also scheduled to set sail on Thursday. This could provide an extra boost to shipbuilding, chips and nuclear power plant sectors, the analyst added.

Financial data is shown on a screen inside the dealing room of Hana Bank in central Seoul on June 17, 2026. (Yonhap)