KOSPI Hits Record 9,114.55 as Chip Rally Offsets Early 1.08% Drop
Updated
Updated · UPI News · Jun 22
KOSPI Hits Record 9,114.55 as Chip Rally Offsets Early 1.08% Drop
3 articles · Updated · UPI News · Jun 22
Summary
South Korea’s benchmark index closed at a record 9,114.55, up 62.13 points, after rebounding from an opening 1.08% slide and touching an intraday high of 9,253.00.
Semiconductor gains drove the turnaround as SK hynix jumped 5.61% to 2.92 million won, overtaking Samsung Electronics in market value for the first time; SK Square surged 10.67%.
U.S.-Iran diplomacy also steadied sentiment after Washington and Tehran agreed Sunday on a 60-day road map toward a final deal, easing fears of further disruption around the Strait of Hormuz.
Foreign investors sold a net 2.55 trillion won even as retail and institutional buyers stepped in, while the won weakened 10 won to 1,537 per dollar.
The record close masked broad weakness elsewhere, with Hyundai Motor down 5.22%, LG Energy Solution off 4.7% and Samsung Life Insurance sliding 9.36%.
As AI chips crown a new market king, can Samsung reclaim its throne from surging rival SK hynix?
South Korea's tech boom relies on Chinese minerals. How vulnerable is the global AI chip supply chain?
With a fragile U.S.-Iran peace deal fueling the market, is this record stock rally built on solid ground?
KOSPI’s 2026 Record Run: AI Chip Demand Propels Index Above 9,000, Raising Fears of Overheating
Overview
In June 2026, the KOSPI reached a historic milestone by surpassing the 9,000-point mark for the first time and hitting an all-time intraday high above 9,385. This record-breaking ascent was fueled by a surge in U.S. tech stocks, which gave the Korean market strong momentum and led to another consecutive daily record. However, the trading session was highly volatile, as many investors quickly sold shares to secure profits, causing the index to close lower at 9,052.42. This roller-coaster movement highlights both the excitement and the risks in the current market environment.