The **South Korean stock market** experienced a significant rebound on Friday, achieving a **fresh all-time high**. This surge was primarily fueled by robust gains in **artificial intelligence (AI) related stocks** and renewed optimism surrounding a potential **Middle East ceasefire**. Concurrently, the **local currency, the won**, weakened against the **US dollar**.
The nation’s **benchmark Korea Composite Stock Price Index (KOSPI)** recorded an impressive gain of 290.86 points, or 3.55 percent, to close the trading day at 8,476.15. Earlier in the session, the **KOSPI index** also reached a **new intraday high** of 8,615.09.
Market activity was robust, with **heavy trade volume** totaling 701.5 million shares, valued at 73.7 trillion won (approximately $48.9 billion). Despite the overall index surge, declining stocks (686) outnumbered advancing ones (205), indicating selective gains.
**Foreign investors** and **individual retail investors** both net-sold **South Korean equities**, offloading 1.04 trillion won and 1.4 trillion won, respectively. In contrast, **institutional investors** were significant net buyers, acquiring shares worth 2.37 trillion won.
This marked a resumption of the **KOSPI’s record-breaking ascent**, following a slight 0.53 percent dip the day prior. The **benchmark KOSPI** had already demonstrated strong momentum, rising for four consecutive sessions since May 21 and notably breaching the significant 8,000-point level for the first time on Tuesday.
The market’s positive sentiment was further bolstered by **overnight news reports** suggesting a breakthrough in **Middle East diplomacy**. These reports indicated an agreement between the **United States and Iran** to extend the existing **ceasefire for 60 days** and recommence discussions on **Tehran’s nuclear program**, which positively influenced the **stock index**.
**Artificial intelligence (AI) sector shares** saw a significant boost following recent reports indicating that **Nvidia Corp. founder Jensen Huang** is planning a **visit to South Korea next week**.
Lee Kyung-min, an analyst at Daishin Securities, commented, “The **KOSPI rallied**, primarily supported by gains in major stocks, fueled by the news of **Jensen Huang’s anticipated visit**.” He added that “Stocks related to **Huang’s visit to Korea** concluded the day with positive performance.”
**Market bellwether Samsung Electronics** saw its shares jump by 5.84 percent, closing at 317,000 won. Its prominent **chipmaking rival, SK Hynix**, also advanced, gaining 1.92 percent to reach 2.33 million won.
**LG Electronics** experienced a remarkable surge of 29.93 percent, reaching 293,000 won, while **internet giant Naver** climbed 14.15 percent to 234,000 won. Both companies are reportedly key fixtures on **Jensen Huang’s potential Korean itinerary**.
**South Korea’s top carmaker, Hyundai Motor**, saw its stock rise 6.79 percent to 723,000 won. Its **auto parts affiliate, Hyundai Mobis**, also demonstrated strong performance, moving up 11.95 percent to 768,000 won.
**Leading battery manufacturer LG Energy Solution** advanced 3.62 percent to 458,000 won. Similarly, **pharmaceutical giant Celltrion** recorded a gain of 1.53 percent, closing at 192,900 won.
Conversely, not all sectors experienced gains. **Major banking stock Hana Financial Group** edged down 0.17 percent to 115,100 won, and **food industry leader Nongshim** saw a slight decline of 0.77 percent, ending at 385,000 won.
