The KOSPI index experienced significant fluctuations, swinging over 400 points before closing higher. Amid this volatility, Samsung Electronics saw its stock rise by more than 3%, securing a spot among the top 10 global companies by market capitalization.
On June 2, according to data from the global market capitalization tracking site CompaniesMarketCap, Samsung Electronics' market cap reached $1.526 trillion, surpassing Meta to rank 10th globally. At one point during the trading session, it even exceeded Tesla, which ranked 9th.
Samsung Electronics closed at 360,500 won, up 11,500 won (3.30%) from the previous trading day. Its market capitalization increased to 2,107.58 trillion won, setting a new record for the highest closing price.
In contrast, the domestic stock market exhibited extreme volatility.
The KOSPI closed up 13.11 points (0.15%) at 8,801.49. The index opened at 8,883.19 and briefly rose to 8,933.62, attempting to break through the 8,900 mark. However, heavy selling by foreign investors pushed it down to the 8,503 level, resulting in a drop of 4.9% from its intraday high. The index managed to recover most of its losses, finishing in positive territory.
In the securities market, individual and institutional investors made net purchases of 8.1191 trillion won and 237 billion won, respectively, while foreign investors sold off 8.0505 trillion won.
Among the top market cap stocks, Samsung Electronics provided crucial support to the market. SK Hynix closed slightly lower at -0.13%, while SK Square (7.17%), Samsung Life (17.07%), and Samsung C&T (6.70%) showed strong gains. Conversely, Hyundai Motor (-2.80%), LG Energy Solution (-2.75%), HD Hyundai Heavy Industries (-1.61%), and Samsung Electro-Mechanics (-9.58%) saw declines.
Market analysts suggest that funds have been concentrated in Samsung Electronics, viewed as a major beneficiary of the recent rally in AI semiconductors.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The volatility of the index has increased due to profit-taking ahead of local elections, but Samsung Electronics has maintained relative strength, drawing significant investor interest as it reached the 10th position in global market capitalization during the session."
Indeed, Samsung Electronics' stock has surged over 60% in the past month. The stock price, which was in the 220,000 won range at the end of April, surpassed 360,000 won on this day. During the same period, its market capitalization increased by approximately 800 trillion won.
In the global market cap rankings, Nvidia remains in first place with a valuation of $5.4 trillion, followed by Alphabet, Apple, Microsoft, and Amazon. Among Asian companies, Samsung Electronics and SK Hynix both have market capitalizations exceeding $1 trillion, following TSMC.
The KOSDAQ index closed down 24.00 points (2.29%) at 1,026.03. Foreign and institutional investors made net purchases of 337.3 billion won and 126.2 billion won, respectively, while individuals sold off 449.6 billion won.
* This article has been translated by AI.
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