Seoul stocks end at fresh record high on revived hope for AI boom
Seoul stocks closed at a record high of 6,690.90 on Wednesday, driven by hopes for a prolonged AI boom and solid chip demand. The Korea Composite Stock Price Index added 49.88 points, or 0.75 percent, with major tech shares such as Samsung Electronics and SK hynix seeing significant movements.
Seoul stocks reached a fresh peak on Wednesday, closing at 6,690.90. The Korea Composite Stock Price Index rose 49.88 points, or 0.75 percent, with a heavy trade volume of 712.3 million shares worth 31 trillion won. Initially, the Kospi opened lower due to losses on Wall Street, but turned higher in the afternoon after a Financial Times report indicated investors are betting on a prolonged boom for memory chipmakers amid continued AI demand. Samsung Electronics climbed 1.8 percent to 226,000 won, while SK hynix dropped 0.54 percent to 1.29 million won. AI investment firm SK Square jumped 2.34 percent, and LS Electric surged 4.4 percent. The Korean won was quoted at 1,479.0 won against the US dollar, down 5.4 won from the previous session.
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