South Korea’s KOSPI Closes 3.29% Higher as Chip Stocks Rally

South Korea’s KOSPI closed 3.29% higher Wednesday, Oct. 21, as chip stocks led the advance, while Japan’s Nikkei 225 rose 2% to 65,359.90 during trading.

The KOSPI had risen past 3% during the session. SK Hynix was up 6% at an earlier reading, while Samsung Electronics gained 4.6%. By the close, SK Hynix had gained 5.8% and Samsung Electronics was up 5.67%. Both chipmakers outpaced the broader Korean market.

The Nikkei 225 reached 65,359.90 when its gain hit 2%. The earlier figure captured a point during trading rather than the Japanese benchmark’s final result for the day.

The Korean rally also triggered a buy-side program-trading curb during the session. The KOSPI is South Korea’s main stock benchmark, and the Nikkei 225 tracks major Japanese shares.