South Korean stocks surged past the historic 8,000-point mark on the KOSPI index Friday, driven by a continued rally in large-cap tech shares tied to artificial intelligence.
The benchmark Korea Composite Stock Price Index opened slightly lower but turned higher to breach the unprecedented 8,000 level. As of 9:15 a.m., the index had added 19.99 points, or 0.25 percent, to 8,001.4.
It took just a little over a week for the index to hit the new milestone after topping the 7,000-point mark on May 6. Overnight gains on Wall Street, boosted by a rally in AI-related shares and positive views of the U.S.-China summit in Beijing, lifted sentiment.
Samsung Electronics and SK hynix led the advance among semiconductor names. Foreigners continued selling, but retail investors and institutions stepped in to support the market. The Korean won traded at 1,496.4 won against the U.S. dollar.
