South Korea's KOSPI index crossed the 6,740-point level, establishing a new intraday high [1].
The surge reflects growing investor confidence in the global semiconductor market, which serves as the primary engine for the South Korean economy. As chip demand rises, the benchmark index has maintained a streak of record-breaking closing prices for three consecutive days [1].
The market opened with a 0.72% rise, starting the session at 6,739 points before breaking the 6,740 threshold [1]. This momentum was supported by significant gains in the technology sector, specifically among the nation's largest chipmakers.
Samsung Electronics saw its stock price rise 1.1% to 228,500 won [1]. The company reported a substantial operating profit of approximately 54 trillion won for the first quarter from its semiconductor business alone [1].
Other major players also saw gains. SK Hynix stock traded around 1,300,000 won [1]. Meanwhile, the KOSDAQ index, which focuses more on small-to-mid-cap growth stocks, hovered around 1,217 points [1].
Analysts said that the combination of strong quarterly earnings and continued buying pressure has pushed the market to these unprecedented levels. The current trajectory suggests a high level of optimism regarding the recovery and expansion of the tech sector.
“KOSPI crossed the 6,740-point level, establishing a new intraday high”
The KOSPI's breakthrough to 6,740 points underscores the critical dependence of South Korea's financial markets on the semiconductor cycle. When giants like Samsung Electronics report massive profits, it creates a halo effect that lifts the entire index. This trend indicates that the market is pricing in a prolonged period of growth for AI-driven chip demand.
