SEOUL, May 11 (AJP) - South Korea’s main index soared nearly 5 percent Monday morning to scale a fresh peak above the 7,800 mark, powered by bellwether chip stocks and retail investors chasing the latest leg of the AI-driven rally.
As of 10:39 a.m., the KOSPI was trading at 7,843.57, with a buy-side sidecar was triggered shortly after the opening bell. The KOSDAQ slipped 0.16 percent to 1,205.81.
The surge followed a strong session on Wall Street on Friday, where the S&P 500 and Nasdaq closed at record highs on robust U.S. jobs data and gains in semiconductor shares.
U.S. job growth totaled 115,000 in April, beating market expectations and easing concerns that the U.S.-Iran war could spill into a broader economic slowdown.
Although U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal over the weekend, dimming hopes for a near-term end to the Middle East conflict, South Korean investors appeared largely unfazed as attention stayed fixed on global semiconductor demand.
Market momentum again rested heavily on chip giants. Samsung Electronics rose 6.33 percent to 285,500 won after briefly touching a record 286,500 won. SK hynix jumped 12.51 percent to 1,897,000 won.
Automakers also traded broadly higher, with Hyundai Motor gaining 2.77 percent to 630,000 won and Kia advancing 6.44 percent to 175,100 won.
Among other major shares, SK Square climbed 4.46 percent to 1,147,000 won.
Shipbuilding and industrial names remained firm, with Samsung C&T rising 5.80 percent to 447,000 won and HD Hyundai Heavy Industries gaining 3.95 percent to 684,000 won. Hanwha Aerospace added 1.22 percent to 1,323,000 won.
Battery and biotech shares lagged behind the broader rally. LG Energy Solution slipped 0.73 percent to 473,000 won, while Doosan Enerbility fell 0.54 percent to 128,900 won.
Samsung Biologics edged down 0.34 percent and Samsung Electro-Mechanics dropped 3.28 percent.
Foreign investors turned sellers, unloading a net 1.29 trillion won worth of KOSPI shares in early trading. Retail investors poured in with 1.05 trillion won in net purchases, extending their feverish buying streak, while institutions bought a net 254 billion won.
The Korean won remained stable, with the dollar trading at 1,473.80 won, compared with the previous close of 1,471.70 won.
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