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KOSPI Surges Past 6,000 on AI Chip Rally
25 Feb
Summary
- KOSPI index crossed the 6,000 mark for the first time.
- Chipmakers Samsung Electronics and SK Hynix drove the rally.
- The index has seen significant gains year-to-date and last year.
The benchmark KOSPI stock index in South Korea has achieved a historic milestone, surpassing the 6,000-point threshold for the first time. This significant feat occurred on Wednesday, driven by a robust rally in chipmaker stocks, largely propelled by widespread optimism surrounding artificial intelligence technologies.
The KOSPI opened the trading session with a notable gain of 0.89%, reaching 6,022.7 points. This surge follows closely on the heels of the index breaching the 5,000-mark, which happened just a month prior on January 22. Key contributors to this upward momentum were prominent chipmakers Samsung Electronics and SK Hynix, both of which advanced to fresh record highs.
Reflecting the extraordinary performance, the KOSPI has already risen by an impressive 43% since the beginning of the current year. This follows a remarkable 76% jump recorded in the previous year, marking the most substantial single-year increase since 1999.
