South Korean stocks reached a new all-time high above 7,800 points on Monday morning, driven by a strong performance in blue-chip semiconductor shares. The benchmark Korea Composite Stock Price Index (KOSPI) surged 4.32 percent to 7,822.22, marking its fifth consecutive record-breaking session. The index is now eyeing the unprecedented 8,000-point milestone.
The market witnessed a temporary halt in trading as a buy-side circuit breaker was triggered due to the sharp surge in stock prices. The combined market capitalization of KOSPI and the secondary bourse KOSDAQ surpassed 7,000 trillion won (US$4.75 trillion) for the first time in history on Monday, reflecting the market’s bullish sentiment.
Despite concerns over the U.S.-Iran peace deal, which President Donald Trump indicated he could not accept, South Korean stocks remained resilient. The rally was largely fueled by major chipmakers following positive trends in Wall Street. Companies like Samsung Electronics and SK hynix saw significant gains, with Samsung Electronics surging 6.33 percent and SK hynix skyrocketing 11.68 percent to reach new highs.
In addition to semiconductor firms, other sectors also experienced notable movements. AI investment firm SK Square and trading firm Samsung C&T posted gains, while Hyundai Motor, Kia, and Hyundai Mobis from the auto industry witnessed positive growth. However, battery makers like LG Energy Solution and electrical shares faced mixed results in the market.
The Korean won was trading at 1,472.7 won against the U.S. dollar, showing a slight decrease from the previous session, amidst the overall market positivity.
