South Korean equities experienced a historic day on Monday, with Seoul stocks closing at a new record high. This surge in the benchmark Korea Composite Stock Price Index (KOSPI) was primarily fueled by a robust rally in artificial intelligence (AI)-related chip and power equipment stocks. The market’s strong performance comes just ahead of anticipated earnings reports from major global big tech companies, while the Korean won also strengthened against the US dollar.
Specifically, the benchmark KOSPI recorded an impressive gain, rising by 139.4 points, or 2.15 percent, to reach a new closing high of 6,615.03.
This record-breaking close is largely attributed to increasing optimism surrounding corporate earnings, especially following strong performances from major technology firms within the AI supply chain, such as Samsung Electronics and SK hynix. Lee Kyoung-min, an analyst at Daishin Securities, highlighted this growing anticipation.
“Among these high-performing companies, significant anticipation is building around those linked to AI data centers,” Lee further explained. “This particularly includes semiconductor companies and power equipment providers that are integral to the broader AI value chain.”
