The KOSPI index exceeded 5400 on the 12th, setting a new all-time high after six trading days, driven by gains in semiconductor stocks like Samsung Electronics.
On December 12, the KOSPI index opened at 5425.39, surpassing the 5400 level and setting a new record after six trading days. This increase of 70.90 points (1.32%) represents a strong market performance, eclipsing the previous all-time high of 5376.92 reached on December 4. The rise in the index was significantly influenced by the performance of leading semiconductor companies, with Samsung Electronics climbing to 171,200 won, a 2.03% increase, and SK Hynix rising 2.56% to 882,000 won.
The KOSDAQ index also experienced gains, opening at 1122.55, a 7.68 point increase (0.69%). The positive sentiments in the South Korean market came even as U.S. markets, which had closed just hours prior, showed a slight decline in major indexes like the Dow Jones. Notably, a significant contributor to the rise in South Korea's stock market was news regarding Micron Technology, which strongly refuted rumors about its supply chain troubles and reported a significant 9.94% hike in its stock price.
In economic news, the U.S. Labor Department announced that non-farm payrolls in January had increased by 130,000, surpassing market expectations, and unemployment had decreased to 4.3%. This news had a positive impact on U.S. Treasury yields, which reacted by rebounding. The overall trends highlighted a robust performance in the semiconductor sector, with optimistic market conditions influencing South Korea's stock indices favorably.
