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Korean stocks top $4 tril. in market cap for 1st time
The closing price of KOSPI is displayed on an electronic board at the dealing room of Hana Bank in Seoul, Monday. The index closed at 6,615.03, up 139.40 points, or 2.15 percent, from the previous session, marking its first close above the 6,600 level. The combined market capitalization of the Korean stock market also exceeded 6,000 trillion won for the first time. Yonhap
By Jun Ji-hye
KOSPI climbs past 6,600 to record high on chip rally despite US-Iran tensions
The combined market capitalization of listed firms in Korea surpassed the 6,000 trillion won ($4.07 trillion) mark for the first time Monday, as the country’s stock market extended its rally despite lingering tensions between the United States and Iran, driven by surging semiconductor-making heavyweights.
The total market value of companies listed on the three stock bourses — the benchmark KOSPI, the secondary Kosdaq and the junior KONEX — reached 6,047.9 trillion won as of Monday morning, according to the Korea Exchange.
KOSPI opened 0.9 percent higher at 6,533.60 and extended its gains to close at 6,615.03, up 139.40 points, or 2.15 percent, from the previous session.
On April 9, 2025, when the benchmark index fell to 2,293.70, the KOSPI and Kosdaq's combined market capitalization stood at just 2,210 trillion won. Compared with those levels, the market has expanded by about 2.7 times in just over a year.
The total market value first exceeded 3,000 trillion won on July 10 last year, followed by 4,000 trillion won on Jan. 2 this year and 5,000 trillion won on Feb. 11, underscoring the rapid expansion.
The latest gains were led by semiconductor heavyweights, with SK hynix surging 5.73 percent to close at 1,292,000 won and Samsung Electronics rising 2.28 percent to 224,500 won.
“As gains extended from semiconductors to related sectors such as power equipment, robotics and autonomous driving, the Korean stock market’s total capitalization exceeded 6,000 trillion won for the first time,” said Kang Jin-hyuk, an analyst at Shinhan Securities.
Kosdaq, meanwhile, opened 9.29 points, or 0.77 percent, higher at 1,213.13 and extended its gains to close at 1,226.18, up 22.34 points, or 1.86 percent.
The Korean currency also strengthened. In the Seoul foreign exchange market, it opened at 1,477.6 won per dollar, strengthening by 6.9 won from the previous session, and continued its advance to close at 1,472.5 won, marking a gain of 12 won.
Analysts said geopolitical tensions have yet to trigger a meaningful shift toward a risk-off mood, even as prospects for follow-up talks between the United States and Iran have diminished.
Over the weekend, optimism over renewed negotiations briefly emerged, but the outlook turned uncertain after Iran’s foreign minister left Pakistan, a mediating country. Although he later returned after U.S. President Donald Trump said Washington would not send a delegation, there have been no meaningful breakthroughs.
“The rally seen last week was largely fueled by hopes for peace talks, but those expectations are now stuck in a stalemate,” said Min Kyung-won, an analyst at Woori Bank. “Still, with bitcoin rising on Sunday, the setback in face-to-face negotiations is unlikely to weaken investors’ risk appetite significantly.”
Oil prices, however, moved higher as the impasse in negotiations renewed concerns over the Strait of Hormuz. As of Monday morning, June futures for West Texas Intermediate were up about 2.2 percent at $96.51, while July futures for Brent crude rose about 2.3 percent to $101.39.