Seoul Stock Exchange Surges 5% Led by Samsung and SK Hynix Gains

Asian stock markets showed strong gains, with the Seoul Stock Exchange leading the rally by jumping 5% on the day. The Kospi index was driven higher by major semiconductor companies SK Hynix and Samsung, which surged 9.5% and 8% respectively. Other Asian markets also rose, with Japan's Nikkei climbing 1.1% and Hong Kong's Hang Seng increasing by the same margin, while Shanghai's index gained 0.7%. Oil prices saw a moderate rise of about 0.5%. The New York stock markets were closed in observance of the US Independence Day.

In Japan, the Nikkei was led by a strong 11.5% increase in analog semiconductor maker Rohm, while chemical giant Sumitomo Chemical advanced 7.5%. In Hong Kong, the mining giant Zijin Mining, which focuses mainly on metals, surged 9.4% to lead the Hang Seng index, with jewelry retailer Laopu Gold also rising 3.5%. Lenovo was the only notable decliner, falling 3% at the bottom of the index.

These gains reflect a broad-based rally across key Asian markets, particularly in technology and mining sectors, amid moderate commodity price increases and a US market holiday.