KOSPI Tops 7,000 as Samsung Reaches $1 Trillion

South Korea’s KOSPI closed at a record 7,384.56 on Wednesday, topping 7,000 for the first time. The index rose 6.45% on the day and is up about 75% year-to-date after a 76% gain in 2025.

The rally was concentrated in the semiconductor sector. Samsung Electronics gained 14.4%, taking its market value above $1 trillion. SK Hynix rose 10.6% to a fresh high. Together the two companies represent roughly 44% of the KOSPI’s market capitalization.

Investors bought shares on expectations of stronger global demand for artificial intelligence hardware, which supported heavy buying in chip-related names.

On the data front, South Korea’s manufacturing purchasing managers index rose to 53.6 in April, the highest reading since February 2022. Exports expanded for an 11th consecutive month in April.

Investor positioning in U.S.-listed South Korea exposure reached elevated levels. Call option notional open interest on the iShares MSCI South Korea ETF (EWY) hit a record $5.5 billion last week. Net inflows into EWY are about $6.3 billion year to date. The fund has gained 68% in 2026 and roughly 181% over the past 15 months.

A market newsletter posted that “the total dollar value of outstanding bullish bets has risen +600% over the last several weeks,” and noted weekly call open interest did not exceed $700 million before 2025.

Tensions between the United States and Iran eased, reducing some risk concerns across Asian markets. Other Korean technology and supply-chain firms also posted gains during the session.

Analysts will be watching upcoming corporate earnings and global demand for AI hardware for signs that the recent strength in South Korean stocks can be sustained.