Kospi Surges Past 7,100 Level as Samsung Electronics and SK Hynix Soar Over 3%; Japanese Stocks Remain Closed
TradingKey - KOSPI surges 2.22% at the open, with Samsung Electronics and SK Hynix both up over 3%.
During Asian trading on September 22, Japanese stocks were closed for consecutive public holidays, while South Korean stocks opened sharply higher, driven by a surge in US tech equities. The KOSPI Index surged 2.22% at the open, decisively breaking through the 7,100 mark to stand at 7,163.48 points.
The two core tech chip stocks also opened higher and extended gains, both rising over 3%. Among them, Samsung Electronics surged 3.38% at the open, directly breaching the 280,000 mark to trade at 283,500 Korean won, while SK Hynix gained 3.29%, breaking above the 1.9 million mark to stand at 1,930,000 Korean won.
KOSPI Index Chart, Source: TradingView
In the previous trading session, the three major US stock indexes all moved higher, with the Nasdaq Composite Index rising over 2% to hit a record high, while tech giants posted broad gains, led by Meta's surge of over 11%. Robust momentum in global semiconductor and AI concept stocks strongly stimulated buying in South Korean tech heavyweights, supporting a rebound and strengthening in the broader market.
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