On the 6th, the KOSPI index opened with a sharp gain and, for the first time ever, topped 7,000 points. The rally was fueled by abundant liquidity in global markets and a super-boom in semiconductors driven by growth in the artificial intelligence (AI) industry.

That day, the KOSPI index started trading at 7,093.01, up 156.02 points (2.25%) from the previous session. In early trading, Samsung Electronics topped 250,000 won, and SK hynix broke through 1.6 million won. After the KOSPI opened with a surge, gains widened right after the open. In early trading, it jumped more than 5% and briefly crossed 7,300 points.

In early trading, a buy-sidecar was triggered on the main bourse. As KOSPI futures rose more than 5% for over 1 minute, program buy quotes were halted for 5 minutes.

On the morning of the 6th, as the KOSPI index tops 7,000 points for the first time ever, employees hold a celebratory ceremony in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul./Courtesy of Yonhap News

After first breaking through 5,000 points intraday on Jan. 22 this year, the KOSPI index surpassed 6,000 points a month later. On the 29th of Feb., when the United States and Israel launched a surprise attack on Iran and war broke out, Korea's stock market saw a steep correction, but it resumed a rally starting last month.

The U.S. stock market rose across the board the previous day. The Standard & Poor's (S&P) 500 index and the Nasdaq hit a record high. Pete Hegseth, the U.S. defense secretary, said the truce between the two countries is holding and that a U.S. merchant ship passed safely through the Strait of Hormuz, boosting risk appetite.

In addition, after IDC, an IT market research firm, released a report saying the expansion of the AI industry is driving unprecedented growth in memory semiconductors, the Philadelphia Semiconductor Index surged. Micron, called a "semiconductor barometer," soared more than 11%, and large-cap chip stocks are also jumping in Korea's market today.

Foreign investors are net buyers. Right after the open on the main bourse, foreigners were net buying about 400 billion won, and individuals were also net buyers by 300 billion won. Institutions were net sellers.

Samsung Electronics, SK hynix, and SK Square, ranked Nos. 1 to 3 by market cap, are all surging around 10%. The sharp gains in Samsung C&T and Samsung Securities also stand out.

While the KOSPI index is jumping, the KOSDAQ market is weak. The KOSDAQ index started at 1,220.90, up 7.16 points (0.59%), but turned lower right after the open and is down 1% in early trading.

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