The South Korean stock market soared to an unprecedented record high on Monday, with the benchmark Korea Composite Stock Price Index (Kospi) easily surpassing the 7,700-point mark. This robust performance was primarily fueled by an extended, powerful rally in blue-chip semiconductor shares, demonstrating significant investor confidence despite renewed concerns over a potential rupture in the US-Iran peace deal.
Opening strongly, the Kospi registered a fresh peak at 7,775.31 points, marking an impressive gain of 277.31 points, or 3.7 percent, at the start of trading.
This remarkable Monday surge follows a strong close on Friday, where the Kospi nearly breached the 7,500-point threshold, ultimately finishing at a fresh peak of 7,498 points. This solidified its continuous record-breaking trajectory in the Korean stock market.
The market’s upward momentum was particularly striking as it occurred even after US President Donald Trump’s statement rejecting Iran’s peace offer, which reignited anxieties surrounding the Middle Eastern crisis. However, major South Korean chipmakers showed strong bullish tracking, following significant overnight gains witnessed on Wall Street.
On Friday (local time), leading US stock indexes concluded trading higher, propelled by substantial surges in key semiconductor and artificial intelligence (AI) shares. This positive sentiment from global markets directly influenced the strong opening for Korean equities.
