[DigitalToday reporter Sangyeop Oh (오상엽)] South Korea's KOSPI rose more than 2 percent on Sept. 22, moving around the 7,150 level, helped by gains in large-cap chip stocks such as Samsung Electronics and SK Hynix. As U.S. tech and semiconductor shares surged, combined buying by foreign investors and institutions lifted the index.

As of 9:17 a.m., the KOSPI was up 141.89 points, or 2.02 percent, at 7,149.61 from the previous session's close. The index opened up 153.89 points, or 2.20 percent, at 7,161.61.

In the main board market, foreign investors and institutions were net buyers of 164.4 billion won and 121.0 billion won, respectively. Retail investors were net sellers of 371.5 billion won.

Among top stocks by market value, semiconductor-related shares were strong. Samsung Electronics was trading at 280,250 won, up 2.28 percent from the previous session, and SK Hynix was up 3.16 percent at 1,927,000 won.

SK Square rose 2.93 percent, Samsung Electro-Mechanics gained 6.30 percent, LG Energy Solution added 0.71 percent, Hyundai Motor rose 1.95 percent and Samsung C&T gained 1.63 percent.

KB Financial fell 1.30 percent, while Samsung Biologics was flat.

The Kosdaq also rose. At the same time, the Kosdaq was up 7.66 points, or 0.92 percent, at 843.93.

In the Seoul foreign exchange market, the won was at 1,369.80 per dollar, up 5.20 won, or 0.38 percent, from the previous session.

The strength in U.S. stocks overnight, led by artificial intelligence and semiconductor shares, is seen as lifting investor sentiment in local equities. On Sept. 21 local time, the Dow Jones Industrial Average rose 0.71 percent, the Standard & Poor's 500 gained 1.49 percent and the Nasdaq climbed 2.26 percent. The Philadelphia Semiconductor Index also rose 4.29 percent.

Meta jumped 11.43 percent on expectations its new agent AI service will be a hit. AMD rose 9.95 percent, Micron gained 2.77 percent and Nvidia added 2.30 percent. The U.S. 10-year Treasury yield falling to around 4.95 percent and a drop in international oil prices also supported risk appetite.

The KOSPI has traded in a range of 6,400 to 7,050 since mid-August, but after reclaiming the 7,000 level the previous day it climbed as high as 7,100 in early trade on Sept. 22. With the burden from U.S. rates and international oil prices easing, investor sentiment toward semiconductor and AI-related shares is improving again.

Han Ji-young (한지영), an analyst at Kiwoom Securities, said the market is expected to rise, helped by the effects of a Meta-driven rally in U.S. AI shares in a favourable macro environment marked by the U.S. 10-year yield at 5.0 percent and international oil prices below $100.

Han added that the 7,000 level is hard to view as an upper bound formed by valuation burdens or a slowdown in earnings consensus. She said psychological resistance at the 7,000 level is likely to weaken as the market repeatedly tests the same levels and absorbs supply.