Seoul stocks close at a new record high amid AI-led tech rally
Seoul stocks closed at a new record high, with the KOSPI rising 2.15% to 6,615.03, driven by an AI-led tech rally. The benchmark index's new high came ahead of earnings releases from global big tech giants, including Apple, Alphabet, and Microsoft.
Seoul stocks closed at a record high on Monday, with the Korea Composite Stock Price Index (KOSPI) up 139.4 points to 6,615.03. The KOSPI's new high came just two trading days after its previous record. Trade volume was heavy at 835.6 million shares worth 33 trillion won. Foreigners and institutional investors were net buyers, purchasing 1.99 trillion won worth of equities. Samsung Electronics and SK hynix rose 2.28% and 5.73%, respectively, following strong first-quarter earnings from Intel. The Korean won rose to 1,472.5 against the U.S. dollar. Power equipment providers, such as LS Electric and Hyosung Heavy Industries, also saw significant gains.
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