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South Korea’s KOSPI index climbed to an all-time high on Tuesday, driven largely by strong gains in technology stocks, particularly semiconductor giants benefiting from the artificial intelligence (AI) boom. The benchmark index surged as much as 2.2%, reaching a record 6,355.39 points, reflecting growing investor confidence in memory chip makers and their expanding role in the global AI supply chain.
A major contributor to the rally was SK Hynix Inc, which jumped over 4% to hit a record high. The stock extended its upward momentum after the company announced it had begun mass production of a key high-performance memory module designed for advanced AI processors developed by Nvidia. As one of Nvidia’s primary suppliers, SK Hynix has seen significant growth fueled by rising demand for AI-driven technologies, including data centers and machine learning systems.
Investor sentiment toward SK Hynix has also been supported by ongoing discussions about its profitability, although some recent online speculation about profit-sharing has been unfounded. Despite this, the company continues to benefit from strong fundamentals tied to the booming semiconductor and AI industries.
Samsung Electronics, another major player in the global chip market, also saw its shares rise by approximately 2%, nearing its own record high. The performance of both SK Hynix and Samsung highlights the strength of South Korea’s semiconductor sector, which remains a key driver of the country’s stock market.
Beyond technology stocks, broader market optimism was fueled by geopolitical developments. Reports suggesting that the United States and Iran may resume peace talks ahead of a looming ceasefire deadline helped boost global risk appetite. This positive sentiment extended across Asian markets, further supporting gains in the KOSPI.
Overall, the surge in South Korean stocks underscores the growing importance of AI-related industries and the pivotal role of memory chip manufacturers in shaping future market trends.
