** South Korean shares rose to a record high on Tuesday as chipmakers rallied on optimism ahead of U.S. peer Micron Technology‘s results, while drugmaker Celltrion jumped on a deal to acquire a U.S. factory to avoid tariffs.
** The benchmark KOSPI ended up 17.54 points, or 0.51%, at 3,486.19, its highest closing level on record. During the session, it hit an all-time high at 3,494.49.
** The electric & electronic devices sector rose 1.66% as chipmaker Samsung Electronics gained 1.44% and peer SK Hynix jumped 2.85%.
** “The semiconductor sector rose ahead of Micron’s earnings, which are expected to be better than forecast,” said Seo Sang-young, an analyst at Mirae Asset Securities.
** Micron Technology is scheduled to report its latest results later in the day. ** Celltrion rallied 8.93%, its biggest daily gain since January 2024, after the drugmaker announced that its U.S. subsidiary had acquired Imclone Systems LLC from Eli Lilly in the U.S. ** The pharmaceutical sector rose 2.96% as peer durgmaker Samsung BioLogics climbed 0.97%.
** Among other index heavyweights, battery maker LG Energy Solution climbed 2.29%, while Hyundai Motor and sister automaker Kia Corp were up 0.46% and 0.88%, respectively. ** Of the total 930 traded issues, 270 shares advanced, while 601 declined. ** Foreigners were net buyers of shares worth 303.3 billion won ($217.7 million). ** The won was quoted at 1,392.6 per dollar on the onshore settlement platform, 0.08% lower than its previous close at 1,391.5.
** The most liquid three-year Korean treasury bond yield rose by 0.9 basis point to 2.464%, while the benchmark 10-year yield fell by 0.7 basis point to 2.823%. ($1 = 1,393.2600 won).
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