In just 18 trading days, the KOSPI set a new record. Only 18 trading days after closing above 5,000 points, the KOSPI broke through 6,000 points.
It took 14 years for the KOSPI to leap from 2,000 points to 3,000, and another four years to reach 4,000, but this year it topped 5,000 and 6,000 within just two to three months.
On the 25th, the KOSPI rose 1.91% (114.22 points) from the previous day to close at 6,083.86. The index opened at 6,022.70, breaking 6,000 points for the first time ever, then extended gains and climbed to the 6,140 level intraday.
Retail investors drove the KOSPI's surge. In the main board, foreigners net sold 1.288 trillion won, while individuals net bought 229.2 billion won and institutions net bought 880.6 billion won. In particular, securities firms categorized as financial investment companies, a conduit for individuals' exchange-traded fund (ETF) flows, recorded a net purchase of 1.4175 trillion won.
Analysts said the rebound in global markets from the shock sparked by artificial intelligence (AI) lifted the domestic market. Overnight, all three major U.S. stock indexes rose. News that Anthropic formed partnerships with some major software corporations helped tech stocks, which had been heavily sold, rebound.
Concerns had eased that Anthropic's AI "Claude Code" would cannibalize existing industries such as software. Also viewed as a positive, Meta decided to purchase the latest AI chips in bulk from semiconductor corporations AMD.
Lee Kyung-min at Daishin Securities said, "Investor sentiment toward risk assets has improved, and the KOSPI continues to outperform global markets."
Kang Jin-hyuk, senior researcher at Shinhan Investment Corp., said, "Semiconductor and auto sectors led the index on optimism over AMD and anticipation for the annual developer conference 'GTC 2026.'"
Semiconductor shares continued to climb. Samsung Electronics and SK hynix also closed up more than 1% on the day, maintaining "200,000 Electronics" and "1 million Hynix."
Bullish calls from global investment banks (IBs) on major chip stocks also appeared to help. In a report that day, Macquarie Securities raised its target prices for Samsung Electronics and SK hynix to 340,000 won and 1.7 million won, respectively.
Lee Kyung-min said, "What is driving the KOSPI is earnings momentum centered on semiconductors," adding, "As earnings forecasts rise, valuation appeal remains." Even based on 6,100 points, the price-earnings ratio (PER) is only 10.1 times, the analysis said.
Auto stocks also jumped. Hyundai Motor rose 9% and Kia gained 12% at the close. Lee Kyung-min said, "Strength came on Hyundai Motor Group's proposal to build hydrogen infrastructure in Canada and expectations for an initial public offering (IPO) of Boston Dynamics."
Meanwhile, the KOSDAQ underperformed the KOSPI. The KOSDAQ fell 0.02% (0.25 point) from the previous day to close at 1,165.25. In the KOSDAQ market, only individuals were net buyers. Individuals net bought 392.8 billion won, while foreigners and institutions net sold 234.6 billion won and 129.9 billion won, respectively.
Senior researcher Kang Jin-hyuk said, "With no clear leading sector and trading in a tight range, it underperformed the KOSPI."