South Korea’s benchmark Korea Composite Stock Price Index (Kospi) has witnessed an unprecedented surge in trading activity, with average daily transactions surpassing 40 trillion won ($26.4 billion) for the first time this month. Data released by the Korea Exchange on Monday revealed the Kospi’s daily turnover averaged a staggering 48.05 trillion won during the initial 22 days of May, reflecting a robust and record-breaking market rally.
This remarkable figure establishes a new all-time monthly average for the South Korean stock market, significantly exceeding the previous record of 32.23 trillion won observed in February. The substantial increase in daily trading volume is directly attributed to the Kospi’s sustained rally, which propelled the index to historic new highs throughout May.
Key milestones marked the Kospi’s ascent this month. The index first broke the crucial 7,000-point barrier on May 6 and briefly soared past the 8,000-point threshold during intraday trading on May 15. Despite experiencing some volatile trading sessions, the Kospi concluded the week at 7,847.71 on Friday, demonstrating an impressive 19 percent gain since the end of April.
The extraordinary surge in market turnover was predominantly fueled by intense buying activity in major market bellwethers. Leading the charge were technology giants Samsung Electronics Co. and SK hynix Inc., whose combined daily trading value averaged a substantial 20.57 trillion won during the period. This concentration of investment highlights their significant influence, as these two companies alone accounted for an impressive 43 percent of the Kospi’s total daily turnover.
