South Korean shares surge over 4.6 pct on OpenAI's new model

SEOUL, Sept. 7 (Yonhap) -- South Korean shares surged more than 4.6 percent Monday as OpenAI's new-generation model fueled demand for artificial intelligence (AI)-related shares. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 308.18, or 4.61 percent, to 6,995.39, extending its winning streak to three sessions.

The index started 3.34 percent higher as investors were boosted by the launch of OpenAI's new GPT-6 Astra, which is expected to boost demand for memory chips.

While three major U.S. stock indexes closed lower on Friday, the PHLX semiconductor index rose 3.38 percent.

"Despite sluggish major tech and software shares on Wall Street, investor sentiment was stoked by OpenAI's new Astra, which could open up the artificial general intelligence (AGI) era," said Kang Jin-hyuk, a senior analyst at Shinhan Securities.