South Korean Shares Near 8,000 Milestone

The benchmark KOSPI climbed nearly 2% to around 7,980 on Thursday, extending gains to fresh record highs, amid a global tech rally. Semiconductor stocks led the advance after Wall Street technology shares climbed to new highs overnight on enthusiasm for AI-related companies. Samsung Electronics advanced over 5% after announcing plans to mass-produce next-generation CXL memory modules for AI servers later this year, while SK hynix gained 0.6%. Investor sentiment was further supported by optimism surrounding the Trump-Xi summit, with markets expecting the talks to help prevent further escalation in US-China trade tensions, particularly on tariffs and export controls. Additionally, domestic liquidity conditions remained favorable after Bank of Korea data showed money supply continued to expand in March, driven by increased short-term funds flowing into equity investments. Other notable gainers included LG Energy Solution (2.1%) and Hyundai Mobis (1.7%).

The benchmark KOSPI rose 2.63% to close at a record high of 7,844 on Wednesday, rebounding after a sharp selloff in the previous session as investors selectively bought semiconductor and large-cap technology stocks. Optimism over AI demand and strength in chip exports continued to support sentiment. Gains were led by Samsung Electronics (1.97%), SK Hynix (8.12%), SK Square (5.86%), Hyundai Motor (9.83%), HD Hyundai Heavy Industries (2.83%), and Kia Corporation (6.30%), while LG Energy Solution (-2.71%) and Doosan Enerbility (-4.46%) posted losses. Meanwhile, hotter-than-expected US inflation strengthened expectations that the Federal Reserve could keep interest rates elevated for longer, while lingering uncertainty over US-Iran peace talks and elevated oil prices continued to weigh on sentiment. Investors also monitored debate over proposals to redistribute AI-driven excess tax revenues and ongoing labor tensions at Samsung Electronics after wage talks with its union collapsed.

The benchmark KOSPI fell 2.29% to close at 7,643 on Tuesday, snapping a record-setting rally, as investors locked in profits following the recent surge toward the 8,000 mark. Sentiment also turned cautious after US President Donald Trump warned that the Iran ceasefire was on “massive life support,” reviving concerns over disruptions in the Strait of Hormuz and higher oil prices. Losses were led by Samsung Electronics (-1.23%) and SK hynix (-1.60%), while SK Square (-4.38%), LG Energy Solution (-5.77%), Doosan Enerbility (-1.80%), Hanwha Aerospace (-2.43%), and Kia Corporation (-3.66%) also declined. Still, support remained from continued optimism over the AI-driven semiconductor boom after major Wall Street chip stocks extended gains overnight. Investors also assessed upbeat domestic growth expectations after Finance Minister Koo Yun-cheol said South Korea’s economy is likely to grow by more than 2% this year on strong semiconductor exports and record current account surpluses.