South Korean Shares Set New Record

The benchmark KOSPI closed flat at 6,476 on Friday, pausing its recent record rally as investors remained cautious amid persistent geopolitical tensions in the Middle East. The US ordered naval action against vessels laying mines in the Strait of Hormuz, while Iran seized commercial ships and signaled the waterway may remain disrupted, heightening concerns over global oil supply despite a temporary ceasefire extension between Israel and Lebanon. Losses were driven by technology stocks, tracking an overnight pullback on Wall Street and profit-taking after recent peaks, with Samsung Electronics (-2.23%) and SK Hynix (-0.16%) falling. Automakers also weakened, with Hyundai Motor (-3.57%) and Kia Corporation (-3.09%) retreating. Meanwhile, heightened tensions supported defense and select industrial plays, partly offsetting broader declines, with gains in Hanwha Aerospace (2.95%) and HD Hyundai Heavy Industries (4.99%), alongside Doosan Enerbility (3.75%) and LG Energy Solution (3.22%).

The benchmark KOSPI rose 0.90% to close at 6,476 on Thursday, extending its record run as buying regained control after sharp intraday swings. Early gains followed improved global risk sentiment after the US extended its ceasefire with Iran, though sentiment later turned cautious following reports that the US intercepted Iranian oil tankers in Asian waters. The development prompted profit-taking after recent highs, driving a mid-session pullback before losses were gradually absorbed. At the same time, sentiment remained supported by South Korea’s stronger-than-expected 1.7% GDP growth in the first quarter of 2026, marking the fastest in over five years and reinforcing export and investment momentum. Large-cap performance was mixed, with Samsung Electronics (3.45%), Doosan Enerbility (5.69%), and SK Square (0.69%) posting gains, while SK Hynix (-0.08%), Hyundai Motor Company (-1.85%), LG Energy Solution (-3.82%), and Kia Corporation (-1.19%) declined.

The benchmark KOSPI rose 0.46% to close at 6,418 on Wednesday, reversing earlier losses to set a new record high, as buying returned to heavyweight technology and industrial names. The rebound followed recent profit-taking, with sentiment improving in select export-oriented sectors. Support came from strength in Korea’s AI and semiconductor space, with expanded LG–Nvidia cooperation boosting optimism around AI development and commercialization. Defense and shipbuilding shares also gained on fresh export-related developments, including Hanwha Aerospace’s partnership with Northrop Grumman and HD Hyundai Heavy Industries’ first icebreaker export to Sweden. Overall, the rebound reflected selective buying in export-driven names. Large-cap performance was mixed, with gains in HD Hyundai Heavy Industries (11.28%), Hanwha Aerospace (1.80%), and LG Energy Solution (1.36%), while Samsung Electronics (-0.68%), SK Hynix (-0.16%), and Hyundai Motor (-0.92%) declined.