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South Korea's KOSPI Index Tops 9,000 for First Time as Chipmakers Rally
Foreign buying and a rally in Samsung Electronics and SK hynix pushed the benchmark to 9,063.84, with trade volume reaching 505.9 million shares.
- On Thursday, the Korea Composite Stock Price Index surpassed the 9,000-point milestone for the first time in history, closing at 9,063.84 as the index surged more than 2 percent.
- Investor sentiment was bolstered by news that the United States and Iran agreed to reopen the Strait of Hormuz, while the index continued its winning streak for the sixth consecutive session amid artificial intelligence optimism.
- Market leader Samsung Electronics rose 4.62 percent, while rival SK hynix jumped 6.51 percent; foreigners net bought 1.3 trillion won against 1.2 trillion won sold by retail and institutional investors.
- Analyst Kim Seok-hwan from Mirae Asset Securities said "investors anticipate semiconductor companies could gain better bargaining power due to a sustained supply bottleneck," while Lee Kyoung-min from Daishin Securities noted non-chip sectors benefited from reforms.
- The KOSPI broke the 8,000-point mark on May 26, reaching the new 9,000-point record in less than one month; the Korean won was quoted at 1,527.1 won against the United States dollar.
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New Strait Times+2 Reposted by 2 other sources
South Korea's KOSPI index tops 9,000 for first time as chipmakers rally - New Straits Times Online
SEOUL: South Korea's KOSPI stock benchmark hit the 9,000 milestone on Thursday for the first time as chipmakers rallied on AI optimism.
·Malaysia
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KOSPI surpasses 9,000 for the first time in history
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Coverage Details
Total News Sources16
Leaning Left1Leaning Right4Center4Last UpdatedBias Distribution45% Center, 44% Right
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
45% Center
11%
C 45%
R 44%
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