[Closing Market] KOSPI Surges Past 6,570 on Semiconductor Rally
On Aug. 12, the domestic stock market staged an unstoppable upward rally, driven by favorable news from the United States regarding the artificial intelligence (AI) and semiconductor sectors, along with explosive buying from foreign investors. The KOSPI index surged by more than 230 points in a sing
On August 12, South Korea's KOSPI index experienced a dramatic rally, surging past the 6,570 mark to close at 6,579.04, marking a 3.68% increase from the previous day's trading. This upward momentum was primarily driven by positive news from the United States concerning the artificial intelligence (AI) and semiconductor sectors, along with significant buying from foreign investors.
The index opened at 6,438.50 and initially climbed by 92.97 points (1.47%), fueled by intense foreign investment, particularly in large-cap semiconductor stocks. Throughout the day, the index peaked at 6,668.43 before experiencing some profit-taking. The KOSDAQ index also reversed its earlier decline, closing at 858.91, up 1.07 points (0.12%) from the previous trading day.
The exchange rate for the won-dollar also saw a slight decrease, closing at 1,415.7 won per dollar, down 0.3 won from the previous day's close, reflecting a stabilizing trend. The surge in the market was largely attributed to foreign and institutional investors' buying, with over 2.7 trillion won (approximately $1.91 billion) being net-purchased by foreign investors in the KOSPI market alone.
Major stocks driving this rally included Samsung Electronics and SK hynix, which saw substantial gains following positive earnings reports from AI infrastructure companies in the U.S. market and a sharp rise in Korean semiconductor American Depositary Receipts on the New York Stock Exchange.
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