South Korea’s KOSPI, soared to another record on Thursday 14 MAY, fueled by a global tech rally and investor excitement over artificial intelligence (AI) growth.
The benchmark index opened at 7,873.91, up 29.90 points from the previous day and closed at 7,981.41, gaining 137.40 points, or 1.75 percent.
During the session, it briefly climbed to 7,991.04, inching closer to the symbolic 8,000 mark. Investor optimism followed strong gains in U.S. technology stocks overnight. Semiconductor shares led the charge despite lingering inflation worries.
The US producer price index for April jumped 6 percent year-on-year, mainly driven by energy costs, marking the steepest increase since December 2022.
Yet tech giants kept climbing, with Nvidia up 2.29 percent and Alphabet jumping 3.94 percent, while the Philadelphia Semiconductor Index rose 2.57 percent. The upbeat mood extended from geopolitics.
Nvidia CEO Jensen Huang joined former US President Donald Trump on his China visit, where Trump met President Xi Jinping.
China pledged more openness to US companies, offering wider opportunities for global businesses including Tesla and Apple. Domestically, brokers continue to see potential in Korea’s stock market.
KB Securities raised its year-end KOSPI target from 7,500 to 10,500, citing strong AI-driven earnings growth. “Even after its recent rally, KOSPI trades at a discount compared with other Asian emerging markets,” said Kim Dong-won, research chief at KB Securities.
“Korea’s semiconductor, power, and robotics sectors position it well to benefit from AI infrastructure expansion.” The secondary bourse, Kosdaq, also rose, closing at 1,191.09, up 1.20 percent.
Meanwhile, the Korean won opened stronger against the U.S. dollar at 1,489.8 won, though it later softened to finish at 1,491.0 won per dollar. For everyday investors, the rally signals excitement about Korea’s tech-driven future, with AI innovation and global trade prospects keeping the market momentum alive.
