The benchmark KOSPI rose 337.64 points, or 5.99%, to 5,975.98 as of 0140 GMT. If the gains hold, the index would record its biggest single-day percentage rise since July 31, as per the report.
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SK Hynix climbed 8.20% after the memory chipmaker reported a more than seven-fold increase in quarterly profit and announced plans to return about $75 billion to shareholders. The company also forecast robust demand, supported by investment in AI infrastructure that has driven up memory chip prices.
Samsung Electronics, another major beneficiary of the AI-driven semiconductor boom, advanced 8.90%, helping lift the broader market.
The rally followed Tuesday's Wall Street gains, as US stocks closed higher on enthusiasm for artificial intelligence-related companies. Markets also remained focused on the September-quarter earnings season and the US Federal Reserve's policy meeting, Reuters reported.
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Other South Korean blue-chip stocks also traded higher. Battery maker LG Energy Solution gained 1.70%, while Hyundai Motor rose 3.27% and Kia Corp advanced 1.50%. POSCO Holdings added 2.72%, while Samsung BioLogics slipped 0.36%.
Market breadth remained positive, with 620 stocks advancing and 257 declining among the 913 issues traded.
Foreign investors were net buyers of South Korean shares worth 589.1 billion won ($444.24 million), Reuters reported.
In currency trading, the South Korean won weakened to 1,335.7 per dollar on the onshore settlement platform, down 0.64% from its previous close of 1,327.2.
In the bond market, December futures on three-year treasury bonds fell 0.05 point to 103.29. The yield on the most actively traded three-year Korean treasury bond declined 2.2 basis points to 3.776%, while the benchmark 10-year yield rose 2.8 basis points to 4.070%, according to Reuters.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
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