The South Korean won edged higher to around 1,455 per dollar, extending gains from the previous session, underpinned by optimism over the AI-led chip upcycle. Strong demand for high-bandwidth memory and AI-related products continues to lift earnings prospects for major semiconductor exporters. Solid corporate results and elevated foreign participation in semiconductor-heavy equities have helped stabilize broader market sentiment. Additional support came from South Korea’s early trade data, where exports surged 44.4% year-on-year in the first 10 days of February, with semiconductor shipments jumping 137.6%, supporting the trade balance and reinforcing expectations of steady dollar inflows. The recent gains also build on last week’s strong external flows, including South Korea’s record current account surplus and the $3 billion foreign-exchange bond issuance. However, gains remained measured amid lingering caution over key US economic data.
