South Korean Stock Market Hits Record High Amid Chipmaker Surge
Global Markets | South Korean shares jump 5% to record high as chipmakers rally
The Economic TimesImage: The Economic Times
South Korea's benchmark KOSPI index surged by 5.12% to a record close of 6,936.99 on Monday, driven by optimism in the chipmaking sector amid positive economic data. The rally was fueled by strong performances from major companies like Samsung Electronics and SK Hynix, reflecting robust demand for semiconductors.
- 01KOSPI index closed at a record high of 6,936.99.
- 02Chipmakers Samsung Electronics and SK Hynix saw gains of 5.44% and 12.52%, respectively.
- 03South Korean exports rose for the 11th consecutive month in April, driven by chip sales.
- 04Factory activity expanded at its strongest pace in over four years.
- 05Foreign investors purchased shares worth 3 trillion won (approximately $2.05 billion).
Advertisement
In-Article Ad
On Monday, South Korean shares experienced a remarkable surge, with the benchmark KOSPI index climbing 5.12% to reach a record close of 6,936.99. This increase marked the largest daily percentage rise since April 8. The rally was primarily driven by optimism surrounding the chipmaking sector, as major companies like Samsung Electronics and SK Hynix reported significant gains of 5.44% and 12.52%, respectively. Positive economic indicators also contributed to the surge; South Korea's factory activity expanded at its strongest pace in over four years in April, largely due to rising semiconductor demand. Additionally, exports increased for the 11th consecutive month, surpassing forecasts thanks to a boom in chip sales. Foreign investors were notably active, net buying shares worth 3 trillion won (approximately $2.05 billion). The South Korean won strengthened against the dollar, closing at 1,462.8 per dollar. Overall, the market sentiment remains bullish, with analysts highlighting the relentless rise of AI-related stocks as a driving force.
Advertisement
In-Article Ad
The surge in the stock market and chip sales indicates a positive economic outlook for South Korea, potentially leading to increased investment and job growth in the technology sector.
Advertisement
In-Article Ad
Reader Poll
Do you think the surge in South Korean stocks will continue?
Connecting to poll...
More about Samsung Electronics
Read the original article
Visit the source for the complete story.







