KOSPI surpasses 5,500 for first time

The benchmark KOSPI extended its advance for a fourth straight session, breaking above the 5,500 mark for the first time as large-cap technology shares led the charge. Samsung Electronics surged more than 7 percent at one point during the day, providing a decisive lift to the broader index.

On Feb. 12, the KOSPI finished at 5,522.27, up 3.13 percent from the previous close and notching another record high. In intraday trading, the index cleared both the 5,400 and 5,500 levels for the first time. Samsung Electronics rose 6.44 percent, reaching as high as 179,600 won before the close and edging closer to the 180,000 won mark. SK hynix also climbed 3.26 percent, moving above 880,000 won.

The rally in the two chipmakers followed gains in U.S. semiconductor stocks a day earlier. On Feb. 11 local time, the three major Wall Street indexes ended lower despite stronger-than-expected January nonfarm payroll figures, as concerns over the durability of the labor market and stretched valuations dampened overall sentiment. Chip shares, however, drew support from the solid jobs data and sustained demand tied to artificial intelligence data center investment.

Micron Technology led the surge, jumping 9.94 percent after saying it faced no disruptions in supplying high-bandwidth memory 4, or HBM4, to Nvidia. Optimism spread across the semiconductor sector, with Sandisk rallying 10.56 percent and NXP Semiconductors gaining 5.55 percent. The strong performance of U.S. chip stocks spilled over into Seoul, bolstering leading South Korean semiconductor shares and reinforcing the broader market’s upward trajectory.

The Korean won also extended its advance against the U.S. dollar for a fourth straight session, defying the dollar’s overall strength in global markets. In the Seoul foreign exchange market, the currency closed the daytime session at 1,440.2 won per dollar at 3:30 p.m., appreciating 9.9 won from the previous session.


최미송 cms@donga.com