Tech Enthusiasm Catapults Korean Stocks to New Record -- WSJ

Dow Jones05-06 18:08

By Rebecca Feng

South Korea's Kospi index soared by nearly 15% today, as it continued to build on a standout performance this year.

The benchmark index crossed the 7,000 mark for the first time ever, largely thanks Samsung Electronics, one of the world's largest memory-chip makers and a heavyweight in the index. Samsung's shares climbed more than 16%, ushering the company into the rarefied club of companies with a market valuation of more than $1 trillion.

South Korea's stock market has been buoyed this year by artificial intelligence demand for chips, and recent signs show it's set to continue to be strong, at least in the near future. Samsung said during its earnings call last week that its production capacity was already fully sold out for this year.

SK Hynix, another South Korean chipmaker that has powered gains for the Kospi, rose more than 12% today.

The South Korean benchmark index is up 74% so far this year. By comparison, other Asian stock indexes such as China's CSI 300 and Japan's Nikkei 225 have climbed less than 20%, and the S&P 500 is up 6% so far this year.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 06, 2026 06:08 ET (10:08 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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