South Korean shares extended their winning streak to a fourth day on Wednesday, owing to gains by major semiconductor stocks after the tech-laden Nasdaq Composite closed at a record high overnight on Wall Street. The Nasdaq rose 0.45%, while the Dow Jones Industrial Average fell 0.36% and the S&P 500 declined 0.06% at market close on Tuesday.
The Korea Composite Stock Price Index, or Kospi, increased by 63.01 points, or about 0.9%, to close at 7,080.92. The Kosdaq fell by 10.1 points, or 1.2%, to close at 844.48.
Key chipmakers and market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 3% and 1%, respectively, at market close on Wednesday.
In economic news, South Korea's consumer sentiment improved in August, with the Composite Consumer Sentiment Index rising 2.1 points to 106.6, according to data from the Bank of Korea on Wednesday.
The reading compared with the 104.5 print recorded in the previous month, and against Trading Economics' 104.8 forecast.
A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.
The sub-index for current living standards steadied at 92, while the consumer sentiment index for future conditions climbed to 98 from 97.
Meanwhile, inflation expectations for the upcoming 12 months were unchanged at 2.7%.
In corporate news, Posco Future M (KRX:003670) secured a supply contract of lithium iron phosphate (LFP) cathode materials for secondary batteries from SK Innovation (KRX:096770) subsidiary SK On, according to a Wednesday filing with the Korea Exchange.
The contract, valued at 1.074 trillion won, is valid till Dec. 31, 2029.
Shares of Posco Future M fell over 2% while those of SK Innovation added nearly 6% at market close.