Lead
South Korea's benchmark stock index, the KOSPI, crossed the 9,000-point mark for the first time in its history on Thursday, closing at 9,063.84, according to multiple reports from Yonhap News Agency. The index rose 199.6 points, or 2.25 percent, from the previous session, after briefly touching 9,106.07 earlier in the day.
The milestone extends a remarkable run that has seen the KOSPI more than double in value so far this year, rising over 110 percent according to one Yonhap report. The surge has been led by semiconductor giants Samsung Electronics and SK hynix, which have benefited from a global spending boom on AI data centers.
Coverage Comparison
All four reports from Yonhap News Agency, South Korea's leading wire service, focused on the historic crossing of the 9,000-point threshold, though they offered slightly different details and timings. Three of the four reports noted that the index had been on a record-breaking run for five consecutive sessions since last Thursday, attributing the rise to a peace agreement between the United States and Iran, as well as optimism about the artificial intelligence sector.
Two of the reports, which appears to be updated versions of the same story, provided the closing figure of 9,063.84, while a third, published during trading hours, reported the index at 8,993.66 as of 1:52 p.m., after reaching as high as 9,040.52. A fourth report, also published intraday, said the index had breached 9,000.68 as of 12:52 p.m.
The reports differed slightly on when the KOSPI first broke the 8,000-point mark. Most said this occurred on May 26, while one said May 15. All agreed that the index took less than a month, or just 22 trading sessions in one account, to move from 8,000 to 9,000.
Key Claims
According to Yonhap, the KOSPI's market capitalization has surpassed 7,300 trillion won (approximately US$4.8 trillion). Samsung Electronics and SK hynix together account for more than half of the index's total market value—about 28 percent and 25 percent, respectively, per one report.
Shares of Samsung Electronics have risen 188 percent since the start of the year, while SK hynix has jumped over 287 percent over the past six months, according to three of the reports. One report put Samsung's gain at more than 180 percent and SK hynix at about 280 percent for the year.
The rally has been supported by several factors. Analysts at Daishin Securities cited by Yonhap noted that nearly 70 percent of deals for DRAMs used in AI servers are made under long-term contracts, providing stability. They also pointed to capital market reforms, shareholder-friendly policies, and the cancellation of treasury stocks as boosting non-chip sectors.
Retail investors have been a significant force, purchasing a net 73.3 trillion won worth of KOSPI-listed stocks so far this year, according to a single report. Additionally, single-stock leveraged exchange-traded funds (ETFs) tied to the two semiconductor makers have provided further liquidity into the market, as mentioned in two reports.
The U.S. Federal Reserve, under its new Chair Kevin Warsh, kept its benchmark interest rate steady but strongly hinted at a higher rate later this year, according to a single report. This hawkish stance did not dampen the rally, which continued in the face of such headwinds.
Perspectives
Market analysts quoted by Yonhap expressed confidence that the KOSPI could continue its record-setting run, driven by AI-related semiconductor demand. Lee Kyung-min (also reported as Lee Kyoung-min) of Daishin Securities expected the index to keep climbing this year, citing the structural shift toward AI and long-term contracts for memory chips.
The reports also highlighted the role of geopolitical developments, specifically the U.S.-Iran peace agreement that reopened the Strait of Hormuz, a key oil shipping route, which improved investor sentiment. Some reports framed the rally as continuing despite the Fed's hawkish stance and lingering Iran uncertainty, suggesting a resilient market driven by fundamentals.
While all reports come from Yonhap, the consistency across its updates provides confidence in the core facts. The varying intraday figures reflect the fast-moving nature of the session rather than factual discrepancies. As the KOSPI continues its historic climb, the focus now turns to whether the momentum can be sustained amid potential interest rate hikes and global economic uncertainties.