KOSPI Surges 6% to Break 7380 Mark for First Time

The KOSPI index rose over 6%, crossing the 7,380 mark for the first time to reach a new all-time high. The market, which reopened after the Children's Day holiday, saw significant investor capital flow in from the start, surging to 7,400 before closing at 7,384, up 6.45%. This marks the first time the index has surpassed the 7,000 level in just over two months since breaking the 6,000 mark on February 25th, recording the second-largest surge in its history.

The KOSPI's rise was led by strong performance from major semiconductor stocks. Samsung Electronics and SK Hynix closed at 266,000 won and 1,601,000 won respectively, up 14.41% and 10.64%, both hitting record highs. This surge is attributed to a more than 4% jump in the Philadelphia Semiconductor Index overnight.

Foreign investors led the KOSPI's ascent, with net purchases exceeding 3 trillion won. They specifically invested over 3 trillion won in Samsung Electronics and more than 260 billion won in SK Hynix.

With the index's rise, the total market capitalization of the KOSPI market surpassed 6,000 trillion won for the first time. Following improvements in semiconductor earnings, domestic and international brokerages have raised their KOSPI outlooks to the mid-8,000s. The situation in the Middle East remains a variable.

Meanwhile, the KOSDAQ index closed down 0.29% at 1,210.17, and the won-dollar exchange rate finished the weekly trading session down 7.7 won at 1,455.1.