South Korean stocks reached a historic high, exceeding 5,600 points for the first time ever on Thursday, fueled by strong performances in semiconductor and leading technology stocks amid growing optimism surrounding artificial intelligence (AI). Simultaneously, the Korean won weakened against the US dollar.
The Korea Composite Stock Price Index (KOSPI) surged by 170.24 points, a 3.09 percent increase, to close at a record peak of 5,677.25.
The previous record close was established on February 12th, when the index reached 5,522.27.
Following a three-day market closure for the Lunar New Year holiday, the KOSPI opened at a record level on Thursday and sustained its upward trajectory driven by robust buying activity from institutional investors.
“With major US AI companies like Nvidia and Broadcom set to report earnings next week, investor interest in chip-related stocks is anticipated to remain strong,” commented Lee Sung-hoon, an analyst at Kiwoom Securities.
