The **South Korean stock market** soared to an unprecedented **record high** on Tuesday, with the benchmark **Kospi index** closing above the **8,000-point level** for the first time. This historic surge was fueled by growing optimism surrounding a potential **US-Iran peace agreement** and the reopening of the crucial **Strait of Hormuz**. The local currency also saw gains against the US dollar.
The **benchmark Korea Composite Stock Price Index (Kospi)** surged by an impressive 199.8 points, marking a 2.55 percent increase, to settle at a **record closing high** of 8,047.51. This remarkable performance extended its winning streak to a third consecutive session.
This momentous occasion marks the **first time the Kospi has closed above the 8,000-point level**, building on its previous milestone of breaking the 7,000-point threshold just weeks prior, on May 6.
The index commenced trading 2.84 percent higher, driven by a significant boost in investor sentiment. This surge followed positive comments from US President Donald Trump, who indicated that **negotiations with Iran** regarding a ceasefire extension and the reopening of the **Strait of Hormuz** were “proceeding nicely.”
Despite a subsequent trimming of gains following reports of a US forces’ attack on Iran, the **Kospi** resiliently closed in unprecedented territory, solidifying its **record performance**.
Trading activity was robust, with a heavy volume of 514.3 million shares exchanged, totaling 39.1 trillion won (approximately $26 billion). Interestingly, despite the overall market surge, individual stock losers significantly outnumbered winners, with 653 decliners against 234 advancers.
Market data revealed a clear divergence in investor behavior: **institutions** were net purchasers, acquiring 132.7 billion won worth of shares. Conversely, **foreign investors** net sold 184.1 billion won, and **individual investors** significantly offloaded shares totaling 616.7 billion won.
According to Lee Kyung-min, an analyst at Daishin Securities, “Institutions actively scooped up **large-capitalization stocks**, effectively propelling the index higher,” attributing the buying spree to eased tensions in the **Middle East**.
The rally was prominently led by **market bellwethers** in the technology sector, including **Samsung Electronics** and **SK hynix**.
**Samsung Electronics** saw its shares climb 2.22 percent, reaching 299,000 won, while **SK hynix** experienced a significant jump of 5.72 percent, achieving a **record high** of 2.05 million won per share.
Elsewhere, top carmaker **Hyundai Motor** vaulted 5.19 percent to 689,000 won, and major shipbuilder **Hanwha Ocean** soared impressively by 10.23 percent, reaching 134,700 won.
Pharmaceutical giant **Samsung Biologics** also saw gains, adding 0.71 percent to 1.4 million won. K-pop agency **Hybe** increased by 0.43 percent to 236,000 won, buoyed by its global artist **BTS** winning “Artist of the Year” at the prestigious American Music Awards.
