As the KOSPI index topped 9,000 points and continued its record-setting rally, the total market capitalization of the domestic stock market surpassed 8,000 trillion won for the first time on the 19th. The strength of semiconductor stocks persisted, with the market capitalizations of Samsung Electronics and SK hynix each topping 2,000 trillion won.
According to the Korea Exchange (KRX), as of this morning the combined market capitalization of the main bourse and the KOSDAQ market was tallied at 8,160 trillion won. By market, the main bourse's market capitalization exceeded 7,601 trillion won, and the KOSDAQ market reached 559 trillion won.
Korea's stock market capitalization surpassed 6,000 trillion won for the first time on Apr. 27 and then, after eight trading days, topped 7,000 trillion won on the 11th of last month. As the KOSPI index moved past 5,000 points and then broke through 6,000, 7,000 and 8,000 points, market capitalization also swelled quickly. Having topped 9,000 points on the 18th, the KOSPI index is surging again today, approaching the 10,000-point "summit."
The combined market capitalization of Samsung Electronics and SK hynix, ranked No. 1 and No. 2 on the main bourse, easily exceeds 4,000 trillion won. Samsung Electronics' market capitalization amounts to 2,155 trillion won, and SK hynix's also surpassed 2,000 trillion won. The two stocks account for 55% of the main bourse's total market cap.
The KOSPI's rally is underpinned by a semiconductor supercycle driven by growth in the artificial intelligence (AI) industry. In particular, the semiconductor index jumped after U.S. President Donald Trump emphasized domestic chip design and production capability the previous day and mentioned cooperation by Apple and Intel.
Because the strength of semiconductor stocks is based on strong earnings, some expect share price gains to continue. However, concerns about excessive concentration of funds are also persisting.