The South Korean stock market's benchmark index has risen for three consecutive trading sessions, with gains seen in semiconductor and automotive stocks. The Korea Composite Stock Price Index (Kospi) closed up 4.4% at 7,096.89 points.

South Korean shares advanced for a third straight day on Thursday, driven by a booming chip export sector that has fueled economic growth exceeding expectations, coupled with major spending plans announced by U.S. technology firms. The Korean won also strengthened against the U.S. dollar. The index has gained 9% over the past three sessions, though it remains down 20% from its record closing high reached on June 22.

Preliminary estimates released by the Bank of Korea on Thursday showed that South Korea's seasonally adjusted gross domestic product (GDP) for the second quarter grew 0.6% from the previous quarter, surpassing the median forecast of 0.4% growth from a survey of economists.