South Korean Shares Close at New Peak

The benchmark KOSPI rose 1.43% to close at 7,490 on Thursday, resuming its rally to a fresh record high as buying returned in heavyweight technology and industrial stocks after earlier profit-taking. Among heavyweight stocks, Samsung Electronics and SK Hynix advanced 2.07% and 3.31%, respectively, while Hyundai Motor (4.00%), Doosan Enerbility (7.40%), HD Hyundai Heavy Industries (6.94%), and Kia Corporation (1.94%) also posted notable gains, helping offset earlier weakness across the broader market. Sentiment remained supported by easing concerns over the Middle East conflict after fresh signs of progress in US–Iran peace negotiations boosted global risk appetite and lifted Wall Street to record highs overnight. Additional support came from continued optimism surrounding AI-driven semiconductor demand after South Korea’s first-quarter exports hit a record high, with chip shipments soaring 139% year-on-year.

The benchmark KOSPI fell more than 1% to around 7,300 on Thursday, pulling back from record highs as investors locked in profits following the previous session’s sharp rally. Among heavyweight stocks, Samsung Electronics and SK Hynix declined 0.8% and 1.2%, respectively, while SK Square (-2.3%), LG Energy Solution (-3.1%), Hanwha Aerospace (-4.0%), and LS Electric (-5.6%) also recorded notable losses. The retreat came despite easing concerns over the Middle East conflict, helping improve global risk appetite and lifting Wall Street to fresh record highs overnight. Meanwhile, tech shares remained supported by continued optimism surrounding AI-driven semiconductor demand after South Korea’s first-quarter exports hit a record high, with chip shipments soaring 139% year-on-year. Additional support also came from government plans to launch a 600 billion won fund to support AI and high-tech industries.

The benchmark KOSPI soared 6.45% to close at 7,385 on Wednesday, extending its record-setting run, driven by a tech-led rally and improved global risk sentiment. Semiconductor heavyweights led the advance, with Samsung Electronics (15.27%) surging after briefly crossing a $1 trillion valuation on renewed AI-driven momentum, alongside SK Hynix (9.99%) hitting record highs on optimism over the AI chip supercycle and tightening memory supply. Other notable gains included SK Square (9.89%), Hyundai Motor (2.23%), and LG Energy Solution (2.33%). Sentiment was also lifted after US President Trump paused efforts to guide vessels through the Strait of Hormuz amid progress toward a deal with Iran, easing concerns over a key oil route as oil prices fell, softening inflation pressures. Strong foreign and institutional buying added support, with overseas investors purchasing about KRW 3 trillion of shares and institutions adding about KRW 1.9 trillion, tracking Wall Street’s record highs.