SK hynix Surges 6% to Record High Amid South Korean Stock Rally
South Korea’s benchmark Kospi stock index soared to a fresh record high during early trading on Monday, significantly bolstered by robust gains from leading chipmakers.
Opening strong at 6,782.93, the Kospi index registered a significant 2.79 percent increase from its prior close, eclipsing its previous intraday record of 6,750.27, which was established last Thursday before the holiday period. The upward momentum continued, pushing the index further to a session peak of 6,797.18 by 10:15 a.m. local time.
On the main board, retail investors displayed caution, emerging as net sellers by offloading shares valued at 1.49 trillion won ($1.01 billion). Conversely, market confidence was driven by foreign and institutional investors, who were significant net buyers, acquiring 1.04 trillion won and 476.1 billion won worth of shares, respectively.
The impressive rally was primarily spearheaded by South Korea’s dominant semiconductor heavyweights.
Among these, memory chip giant SK hynix’s stock performance stood out, surging by 6.46 percent to reach an unprecedented record high of 1.37 million won. Fellow tech leader Samsung Electronics also saw substantial gains, climbing 2.49 percent to 226,000 won per share.
This surge in investor sentiment was largely attributed to two key factors: robust earnings reports from major global Big Tech firms and a sustained increase in spending on cutting-edge artificial intelligence (AI) infrastructure worldwide.
Concurrently, the secondary Kosdaq market mirrored the positive trend, extending its gains significantly. It commenced trading 1.67 percent higher at 1,212.28 and further solidified its position to 1,217.25 by 10:15 a.m., marking a 2.09 percent rise for the session.
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