On the 21st, the KOSPI set a record high, and it posted the highest gain among the Group of 20 (G20) this month.
According to the Korea Exchange (KRX), the KOSPI closed at 6,388.47 points. It set a record high for the first time in about two months since 6,307.27 points on Feb. 26. It also surpassed the intraday record high of 6,347.41 points on Feb. 27.
The market capitalization also hit a record high of 5.236 quadrillion won.
The KOSPI's April gain was 26.4%, ranking No. 1 among G20 countries. Japan's Nikkei 225 (15.2%), Türkiye's BIST 100 (13.2%), India's BSE Sensex (9.1%), and the U.S. S&P 500 (8.9%) followed.
Even when extending the period from January to April this year, the KOSPI recorded the highest gain among G20 countries at 51.6%. The gap widened significantly compared with No. 2 Türkiye (29%), No. 3 Brazil (22%), and No. 4 Japan (17%).
The exchange analyzed, "The KOSPI plunged in March due to the fallout from the war between the United States and Iran, but starting in April it rebounded and has continued to rise on expectations for semiconductor earnings and improved foreign inflows."
The exchange also analyzed that investment sentiment recovered as earnings outlooks improved on the back of growing global artificial intelligence (AI) memory demand.
It also cited improved foreign inflows as a driver of gains. Foreign investors continued net selling from February to March but shifted back to net buying this month. In particular, they posted 5.6 trillion won in net purchases in the electrical and electronics sector alone.
Still, variables remain. An exchange official said, "The continued government policy to advance the capital market, the development of the AI industry, and improved semiconductor earnings are positive factors," while adding, "Demand for profit-taking after a short-term rise and uncertainties in the Middle East could weigh on the index."