South Korean stocks just smashed another record on Friday, pushing their hot streak to nine straight days of gains. The excitement came from soaring semiconductor shares and fresh optimism about a US Federal Reserve rate cut next week. Even better, the Korean won strengthened against the US dollar, giving investors more reasons to cheer.
The main KOSPI index jumped 51.34 points, or 1.54%, to close at a whopping 3,395.54. That’s higher than Thursday’s all-time high of 3,344.2, marking the third day in a row for new records, according to Yonhap news agency. Trading stayed steady with 444.9 million shares changing hands, worth about 13.8 trillion won (roughly $9.9 billion). More stocks rose than fell—521 winners beat out 344 losers.
Foreign investors scooped up over 1.4 trillion won in shares, and institutions grabbed 611.4 billion won. Retail investors, on the other hand, sold off 2 trillion won to lock in profits.
Analyst Han Ji-young from Kiwoon Securities explained it simply: “This KOSPI rally mirrors the upbeat US stock markets, fueled by Fed rate cut hopes and the ongoing AI boom.” Sure enough, US markets closed strong overnight—the Dow Jones rose 1.36%, Nasdaq climbed 0.72%, and S&P 500 gained 0.85%.
What really sparked the buzz? The latest US consumer price index (CPI) data showed inflation above the Fed’s 2% target but cooling enough, especially with a shaky job market, to make a rate cut likely next week.
Back home, hopes grew that the Korean government might scrap its unpopular plan to hike capital gains taxes on stocks. President Lee Jae Myung addressed this during a press conference on his first 100 days in office, saying there’s no need to lower the tax threshold for stock investments—a move that had worried local investors.
Semiconductor giants led the charge in Seoul. Samsung Electronics surged 2.72% to a yearly high of 75,400 won, while rival SK hynix rocketed 7% to a record 328,500 won. Tech players like Naver rose 1.29% to 236,000 won, and Kakao skyrocketed 9.35% to 65,500 won.
Investment firm SK Square, focused on semiconductors and IT, leaped 8.35% to 197,300 won. Battery leader LG Energy Solution climbed 1.57% to 355,500 won.
Even everyday favorites shone—Nongshim, the instant noodle maker, spiked 6.97% to an all-time high of 522,000 won, thanks to booming exports from ramyeon buzz in the hit animation K-Pop Demon Hunters.
Financial stocks held strong too, with KB Financial up 1.45% to 119,300 won and Shinhan Financial gaining 2.21% to 69,300 won. Shipbuilders took a breather after recent highs, though, dipping a bit.
Overall, it’s a bright day for South Korean stocks, with global cues and local policy hopes driving the momentum.
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