Lead

Seoul stocks closed at an all-time high Tuesday, briefly surpassing the 6,700-point level for the first time in history, according to Yonhap News Agency. The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.99 points, or 0.39 percent, to end at 6,641.02, after hitting an intraday high of 6,712.73 in the morning session.

The rally was driven by large-cap tech shares ahead of first-quarter earnings releases from major U.S. technology companies, including Apple, Microsoft, and Meta, as reported by Yonhap. The index has risen about 31 percent in April, marking the second-largest monthly increase since February 1988.

Coverage Comparison

All available reporting on the day's trading comes from Yonhap News Agency, which filed multiple updates as the market moved. The initial report focused on the index briefly topping 6,700 during trading, while subsequent versions confirmed the closing level and the record close. The coverage consistently attributes the gains to large-cap tech strength and easing Middle East tensions, with analysts quoted from Daishin Securities and Kiwoom Securities.

Key Claims

  • The KOSPI closed at 6,641.02, up 0.39 percent, after reaching an intraday high of 6,712.73 — a figure carried across all reports.
  • The index briefly crossed the 6,700 threshold for the first time ever, according to all reports.
  • April's gain of approximately 31 percent is the second-largest monthly rise since February 1988, as reported.
  • Intel's earnings beat provided support to the local semiconductor sector, with its data center and AI business revenue growing 22 percent year-on-year in the first quarter, exceeding market expectations, per the reports.
  • The VKOSPI, a measure of expected volatility in the KOSPI200 over the next 30 days, stands above 50 points, a relatively high level that one analyst warns could signal upcoming volatility, as cited in one report.
The KOSPI's record-breaking run follows a sharp downturn after the outbreak of war in the Middle East in late February, according to the reports. The index fell more than 12 percent in a single trading session amid concerns about South Korea's oil-dependent economy, and declined over 19 percent in March, making it one of the worst-performing global indexes.

After surpassing 5,000 points in late January and 6,000 in February, the index erased most of those gains in March following the start of the U.S.-Iran war, but has rebounded on hopes for artificial intelligence (AI) and easing tensions.

Perspectives

Lee Kyoung-min, an analyst at Daishin Securities, told Yonhap that Intel's earnings surprise "provided tailwinds to the local semiconductor sector, reaffirming market confidence in the AI sector."

Han Ji-young, an analyst at Kiwoom Securities, offered a cautious note, remarking that the market could experience volatility ahead, pointing to the VKOSPI "fear index" at over 50 points, which indicates elevated expectations of fluctuations in the near term.

While the short-term outlook remains positive, the elevated volatility measure suggests investors should brace for potential swings as U.S. earnings season unfolds and geopolitical developments continue to be monitored.