South Korea's stock market is approaching a key milestone. Investors are monitoring a potential upgrade to developed-market status by MSCI.
The KOSPI index has recorded a strong surge this year. The gains have been driven by artificial intelligence stocks.
Volatility remains elevated amid the rally. Reforms are also underway in the market.
The developments come as the market draws attention for its performance relative to other emerging markets.
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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.
South Korea's stock market has surpassed India's to rank as the sixth largest globally. The change stems primarily from strong gains by major chipmakers tied to artificial intelligence demand.
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South Korean stocks rebounded to a fresh record high on May 29, fueled by gains in artificial intelligence shares and optimism over a potential U.S.-Iran ceasefire extension.
Seoul stocks opened lower on Wednesday, driven by declines in U.S. artificial intelligence-related stocks.
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Korean stocks opened sharply higher Friday following reports that the United States and Iran have reached an agreement to extend the current ceasefire.
South Korean stocks closed at a record high on May 27, driven by gains in semiconductor shares.
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Seoul stocks opened at a fresh record high on Thursday despite overnight Wall Street losses tied to Federal Reserve signals and Iran uncertainty. The benchmark KOSPI started at 8,884.92.