Global Market: South Korea's Q2 GDP beats estimates on chip exports; semiconductor stocks in focus

South Korea's Q2 GDP expanded 0.6% quarter-on-quarter, beating the 0.4% estimate, driven by strong semiconductor and machinery exports. Year-on-year growth came in at 3.7% versus the 3.5% expected, though the economy slowed from 1.8% expansion in Q1. Resilient chip demand lifted sentiment for semiconductor and export-oriented stocks, but expectations of further Bank of Korea rate hikes could cap broader market gains and pressure interest rate-sensitive sectors.