(2nd LD) Seoul stocks end at record peak of above 9,000 on extended chip rally

Lead

South Korean stocks closed above the 9,000-point mark for the first time in history on Thursday, as a sustained rally in semiconductor shares propelled the benchmark index to a record high. The Korea Composite Stock Price Index (KOSPI) surged 199.6 points, or 2.25 percent, to close at 9,063.84, after rising as high as 9,106.07 during the session, according to Yonhap News.

The milestone extends a winning streak to six consecutive sessions, buoyed by optimism over artificial intelligence and related sectors. The index bucked overnight losses on Wall Street, which were driven by Federal Reserve policymakers' remarks suggesting a rate hike would be inevitable to tame inflation.

Coverage Comparison

Yonhap News reported the index's surge past the 9,000-point level in its Thursday coverage, describing the move as a "historic landmark." The wire service noted that the rally was led by the country's two major chipmakers, Samsung Electronics and SK hynix, with analyst Kim Seok-hwan from Mirae Asset Securities attributing the gains to expectations that semiconductor companies could gain better bargaining power due to a sustained supply bottleneck.

In earlier reporting on Wednesday, Yonhap detailed the KOSPI's 137.64-point gain, or 1.58 percent, to 8,864.24, inching closer to the 9,000-point mark. That session marked a fifth consecutive winning streak, with retail and institutional investors net purchasing a combined 1.1 trillion won, while foreign investors sold a net 992.3 billion won. Analyst Lee Kyoung-min from Daishin Securities described the market as balancing "risk-on sentiment following the peace agreement between U.S. and Iran" with a "wait-and-see stance ahead of the Federal Open Market Committee meeting."

On Thursday morning, Yonhap reported that the KOSPI opened at a fresh record high of 8,896.98, up 0.37 percent, despite overnight losses on Wall Street. The report noted that Fed Chair Kevin Warsh had hinted at a possible rate hike this year, after the central bank froze rates for the fourth consecutive time at a range of 3.5 percent to 3.75 percent. The U.S.-Iran situation also remained a factor, with the Trump administration releasing a memorandum of understanding with Iran, though Trump emphasized it was not a final deal.

Later Thursday, Yonhap noted that the index trimmed earlier gains on foreign selling, after nearing the 9,000-point mark in early trading. The report said investors were cautious over the Fed's policy direction, with Samsung Electronics rising 0.94 percent and SK hynix advancing 4.05 percent.

By Friday morning, Yonhap reported that Seoul stocks traded sharply higher, with the KOSPI rising 200.67 points, or 2.21 percent, to 9,264.51 as of 11:20 a.m., after peaking above 9,300. The gains followed Wall Street's advance, led by chipmakers including Intel, which jumped after President Donald Trump said the firm had agreed to a deal with Apple to design and manufacture chips in the United States.

Key Claims

• The KOSPI closed above the 9,000-point level for the first time in history on June 18, 2026, rising 2.25 percent to 9,063.84.
• Trade volume on that day was heavy at 505.9 million shares, worth 49.9 trillion won (US$32.7 billion).
• Foreign investors were net buyers on June 18, purchasing a net 1.3 trillion won, while retail and institutional investors net sold a combined 1.2 trillion won.
• Samsung Electronics rose 4.62 percent to 362,500 won, and SK hynix jumped 6.51 percent to 2,685,000 won on June 18.
• On June 17, the KOSPI rose 1.58 percent to 8,864.24, with moderate trade volume of 565.1 million shares worth 34.8 trillion won. Samsung Electronics rose 1.02 percent to 346,500 won, and SK hynix advanced 5.84 percent to 2,521,000 won, setting a new record.
• The U.S. Federal Reserve kept its policy rate steady for the fourth consecutive time, at a range of 3.5 percent to 3.75 percent, with Fed Chair Kevin Warsh hinting at a possible rate hike this year.

Perspectives

The market's advance was framed by analysts as a combination of optimism over artificial intelligence and semiconductor demand, alongside geopolitical developments. Kim Seok-hwan from Mirae Asset Securities told Yonhap that investors anticipated semiconductor companies could gain better bargaining power due to a sustained supply bottleneck.

Analyst Han Ji-young from Kiwoom Securities, quoted in the Thursday morning report, cautioned that the KOSPI could face short-term correction pressure after a rapid rise over five consecutive sessions, but added that "the issue is merely the matter of pace, as the current market is backed by valuation appeal and profit momentum."

Lee Kyoung-min from Daishin Securities, quoted in Wednesday's report, highlighted the coexistence of risk-on sentiment following the U.S.-Iran peace agreement with a wait-and-see stance ahead of the Fed meeting. Lee noted that a decline in oil prices following the peace deal had eased inflationary pressures, leading to expectations of a rate freeze.