The South Korean Kospi index has risen for the third consecutive day, boosted by Alphabet's performance lifting memory chip stocks.

The benchmark index Kospi in the South Korean stock market rose by 3.6% at one point, marking its third consecutive trading day of gains. Alphabet's plan to increase capital spending boosted the stock prices of memory chip manufacturers SK hynix and Samsung Electronics. Samsung Electronics rose by 4.8% and SK hynix rose by 5.7%. The small-cap index Kosdaq in South Korea also rose by 3.4%. The recent trend of foreign selling has eased, with overseas investors returning to buy South Korean stocks in the Kospi index. On Wednesday, foreign investment in South Korean stocks reached its highest level since early May.