On the 6th, the KOSPI index soared more than 400 points, climbing again to the "unexplored peak" of the 7,000 level. For the first time ever, the KOSPI index surpassed the U.S. Standard & Poor's (S&P) 500 index (which closed at 7,259.22 points on the 5th local time), and Samsung Electronics' market capitalization exceeded $1 trillion (1,500 trillion won) for the first time.
However, even in this unusual bull market, only about 200 of the roughly 900 stocks listed on the main board finished higher. Funds poured into a handful of large caps, deepening the polarization of the stock market.
The KOSPI index rose 447.57 points (6.45%) to close at 7,384.56. Starting above 7,000 points, the KOSPI's intraday gains kept widening. A large influx of foreign capital drove the move. In the main board, foreigners were net buyers of more than 3 trillion won. Institutions and individuals were net sellers of 2.3 trillion won and 600 billion won, respectively.
After topping 5,000 points for the first time this year, the KOSPI index crossed 6,000 points a month later and reached 7,000 points again in a little over two months.
As tensions from the Iran war eased somewhat, risk appetite improved. After U.S. Minister of National Defense Pete Hegseth said the cease-fire between the United States and Iran was holding and that a U.S. merchant ship passed safely through the Strait of Hormuz, international oil prices fell. U.S. stocks also extended their record high streak. The S&P 500 and the Nasdaq hit a record high again on the 5th.
Tech shares were particularly strong. Market researcher IDC said sales related to DRAM would triple this year and NAND memory sales would double as the AI industry expands, concentrating investment funds in semiconductor stocks.
The Philadelphia Semiconductor Index surged, and Micron, known as a "barometer for semiconductors," jumped more than 11% in the U.S. market the previous day. Thanks to that, Samsung Electronics and SK hynix also rallied. Samsung Electronics jumped more than 14% on the day, topping 260,000 won. Its market capitalization surpassed 1,500 trillion won. In dollar terms, it topped $1 trillion; until now, the only Asian stock with a market cap over $1 trillion was Taiwan's TSMC.
Securities, power equipment, and auto sectors were also strong. Korea Investment Holdings and Mirae Asset Securities rose by double digits, and Samsung Securities also surged to a record high. Hyosung Heavy Industries topped 4.5 million won, and LS Electric also jumped.
In contrast, the KOSDAQ index fell. The KOSDAQ finished at 1,210.17, down 3.57 points (0.29%) from the previous session. EcoPro BM, EcoPro, and Rainbow Robotics rose, but most biotech stocks fell.
Kang Jin-hyeok, an analyst at Shinhan Investment & Securities, said, "With investment funds concentrated in large-cap KOSPI names and no clear momentum, the KOSDAQ index moved within a flat range."