South Korean equities extended their gains late Thursday morning, driven by a broad-based rally in the semiconductor sector.

The positive momentum followed a stronger-than-expected earnings report from US memory chipmaker Micron Technology, which helped alleviate investor concerns regarding demand for artificial intelligence hardware.

The market move marks a continuation of the recovery seen earlier in the week.

South Korean equities had opened sharply higher on Thursday, fueled by a wave of buying in technology stocks.

This buying interest built on gains from Wednesday, when individual investors moved to buy the dip following a sharp sell-off in the technology sector the previous session.

The rally underscores the sensitivity of Korean equities to global semiconductor sentiment.