Korea's KOSPI breaks 7,000 as AI rally catapults Samsung into $1 trillion club
AI-related stocks and market heavyweights including Samsung and SK hynix rallied, prompting the bourse operator to temporarily halt program-driven buy orders.
- On Wednesday, South Korea's benchmark Korea Composite Stock Price Index surpassed the 7,000-point mark for the first time, reaching 7,280.08 by 9:15 a.m. as semiconductor stocks led the rally.
- Global market optimism fueled the ascent following an overnight Wall Street rally and President Donald Trump's Tuesday announcement to pause Strait of Hormuz operations, citing "great progress" toward a comprehensive agreement with Iran.
- Market bellwether Samsung Electronics jumped 9.89 percent and chipmaking rival SK hynix vaulted 9.33 percent, with Samsung's market capitalization surpassing $1 trillion for the first time.
- The bourse operator issued a five-minute buy-side sidecar at 9:06 a.m. to halt program-driven buy orders, reflecting extreme intraday volatility accompanying the historic market surge.
- Building on a 5.1 percent gain on Monday, the KOSPI has climbed 76 percent so far this year, supported by government market reforms and strong manufacturing activity.
19 Articles
19 Articles
KOSPI Surpasses 7,000 for the First Time in History; Market Cap Exceeds 6,000 Trillion Won. Crossing the 7,000 Mark Just Two Months After Surpassing the 6,000 Mark. The KOSPI has broken the 7,000 mark for the first time in history, and its market capitalization has surpassed 6,000 trillion won. Approximately two months after crossing the 6,000 mark, it touched the 7,400 level and closed at 7,384.56 points.
Shares of Samsung Electronics jumped 14% in a high boosted by expectations of strong growth in artificial intelligence
Korea's KOSPI breaks 7,000 as AI rally catapults Samsung into $1 trillion club
South Korea's benchmark KOSPI index vaulted past 7,000 for the first time on Wednesday, as an AI-powered rally in semiconductor stocks drove Samsung Electronics past the $1 trillion market-cap barrier.
Asian markets today: South Korea's Kospi hits record high amid US-Iran peace talks hopes
Asian markets today: South Korea’s Kospi index scaled a new record high, surpassing the 7,000 mark. It climbed 381.8 points, or 5.5%, to touch an all-time high of 7,318.8 during the session.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
