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KOSPI Soars: Market Cap Tops 7000 Trillion Won!
2 Jun
Summary
- KOSPI index reached an intraday all-time high of 8835.10 points.
- Total market capitalization of KOSPI exceeded 7000 trillion won for the first time.
- Samsung Electronics' market cap surpassed 2000 trillion won with a 9% stock jump.
The KOSPI index achieved a historic intraday high of 8835.10 on the 1st, marking a significant milestone as the market capitalization surpassed 7000 trillion won for the first time. This surge was largely fueled by exceptional performance in the semiconductor sector.
Samsung Electronics emerged as a major driver, with its stock price rising 9% to reach a record high, consequently pushing its market capitalization beyond 2000 trillion won. This performance was bolstered by news of South Korea's record semiconductor exports totaling $37.2 billion last month, alongside Samsung's recent announcement of being the first to ship sample HBM4E, a key component for AI.
LG Electronics and LG Innotek also saw substantial gains, trading up 27% and 15% respectively. Hyundai Motor and Naver also experienced notable increases. Retail and institutional investors showed strong buying interest, while foreign investors were net sellers. The positive sentiment around AI and semiconductors appears to be a key factor in the market's upward momentum.
