SEOUL, June 19 (AJP) -South Korean stocks extended their record-breaking rally Friday, with the benchmark KOSPI surging further above the 9,000-point mark as a global semiconductor boom, aggressive foreign buying and renewed optimism over artificial intelligence demand continued to fuel gains.
The benchmark KOSPI opened at 9,292.71, up 2.53 percent from the previous session, extending its record-breaking rally after closing above the 9,000-point mark for the first time a day earlier. The junior KOSDAQ opened 0.03 percent lower at 1,000.67.
As of Thursday's close, the KOSPI jumped 2.25 percent to finish at 9,063.84, marking its sixth consecutive session of gains and achieving another historic milestone. The index climbed as high as 9,106.07 intraday, setting another record and crossing the symbolic threshold just over a month after first breaching the 8,000 mark on an intraday basis on May 15.
The rally remained firmly centered on semiconductor heavyweights. Samsung Electronics rose 2.48 percent to 371,500 won at the open, while SK hynix jumped 4.73 percent to 2,812,000 won, extending gains as optimism over the global AI-driven memory boom continued to build.
The strength spread across major Samsung and SK affiliates. SK Square surged 7.82 percent to 1,833,000 won, Samsung C&T climbed 6.90 percent to 519,000 won, Samsung Electro-Mechanics gained 5.00 percent to 2,310,000 won, Samsung Electronics preferred shares advanced 3.06 percent to 235,500 won and Samsung Life Insurance rose 3.09 percent to 483,500 won.
Among other blue chips, LG Energy Solution edged up 0.25 percent to 401,000 won and Samsung Biologics added 0.35 percent to 1,435,000 won. Hyundai Motor rose 0.17 percent to 602,000 won, while HD Hyundai Heavy Industries slipped 0.73 percent to 679,000 won. Kia and Hanwha Aerospace edged down 0.06 percent and 0.25 percent to 158,700 won and 1,186,000 won, respectively.
The chip rally gathered pace after Apple Chief Executive Tim Cook said booming artificial intelligence demand was driving a sharp increase in chip prices, bolstering expectations for a prolonged global memory upcycle.
Foreign investors remained the dominant buyers, purchasing a net 1.01 trillion won worth of KOSPI shares on Thursday, while institutions added another 539 billion won.
Samsung Electronics was the single most-bought stock among overseas investors.
The bullish mood was reinforced overnight on Wall Street, where semiconductor stocks extended their gains and pushed major indexes higher. The S&P 500 rose 1.08 percent and the Nasdaq Composite gained 1.91 percent as investors piled into AI-related names.
Memory chip makers led the rally. Micron Technology surged 8.7 percent while Sandisk jumped more than 11 percent, reflecting growing confidence that AI-driven demand for high-bandwidth memory and data-center storage will continue to outpace supply.
Adding to the momentum, U.S. President Donald Trump said Apple had agreed to cooperate with Intel to design and manufacture chips in the United States, sending Intel shares soaring more than 10 percent and boosting sentiment across the broader semiconductor industry.
Oil prices also eased overnight, providing additional relief to investors concerned about inflation and geopolitical risks. U.S. crude futures edged lower to settle at $76.60 a barrel. Several market indicators also pointed to continued strength.
The MSCI Korea ETF climbed nearly 7 percent overnight, while the MSCI Emerging Markets ETF gained more than 3 percent. The Philadelphia Semiconductor Index surged 6.42 percent, and KOSPI 200 futures traded in overnight sessions rose 3.5 percent.
Still, after one of the fastest rallies in the market's history, investors are increasingly watching whether the KOSPI's next leg higher can broaden beyond semiconductors and the AI trade that has propelled it to record highs.
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