South Korea’s benchmark KOSPI closed at a record high, lifted by expectations of a semiconductor upturn and renewed foreign inflows.
The Korea Exchange said the KOSPI finished Monday at 6,388.47, setting new intraday and closing records for the first time since February. The previous closing high was 6,307.27 on Feb. 26. Market capitalization also hit an all-time high of 5,236 trillion won.
The index had slid sharply in March amid heightened U.S.-Iran tensions, but has rebounded this month as optimism over chip earnings and improved foreign demand supported a steady rise.
Analysts cited expectations for a recovery in the semiconductor cycle, driven by expanding global demand for artificial intelligence memory and stronger forecasts for first-quarter results, which helped improve investor sentiment.
Foreign investors, who had been net sellers in February and March, turned net buyers this month. About 5.6 trillion won flowed into the electrical and electronics sector, highlighting purchases concentrated in large-cap shares.
The KOSPI has gained 26.4% in April, the highest among Group of 20 markets despite geopolitical risks in the Middle East. Japan’s Nikkei 225 rose 15.2%, Turkey’s BIST 100 gained 13.2%, India’s BSE Sensex added 9.1% and the S&P 500 climbed 8.9%.
Since the start of the year, the KOSPI is up 52%, also the strongest among major markets. Turkey followed at 29%, with Brazil up 22% and Japan up 17%.
The exchange said continued government efforts to modernize capital markets, growth in the AI industry and improving chip earnings are supportive factors. It added that profit-taking after the recent run-up and uncertainty in the Middle East remain negative factors.
* This article has been translated by AI.
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