Seoul shares close at new high on tech rally amid AI optimism
Seoul shares close at new high on tech rally amid AI optimism
Publish Date: 2026-06-01 05:16:00
Source Domain: www.upi.com
- South Korean stocks reached a new all-time high, driven by significant gains in AI-related shares.
- The Korea Composite Stock Price Index (KOSPI) closed up 3.68 percent, adding 311.85 points to 8,788.38.
- The Korea Exchange (KRX) temporarily halted program trading in KOSPI stocks after the index hit a record high.
- Heavy trade volume was recorded, with institutions and individuals heavily investing, while foreigners sold off.
- South Korean exports surged by 53 percent in May to a new monthly high, boosted by the semiconductor supercycle.
- Investor sentiment was further boosted by partnerships announced between U.S. chip giant Nvidia and Samsung Electronics, SK hynix, and Micron, with anticipation around CEO Jensen Huang’s visit to the country.
- Key stocks like Samsung Electronics, SK hynix, Hyundai Motor, LG Electronics, and Naver saw substantial increases.
