VIEW

South Korea’s benchmark KOSPI index climbed past the 7,000 level for the first time, setting a new all-time high as gains in semiconductor stocks drove the broader market sharply higher.

According to the Korea Exchange, the KOSPI opened at 7,093.01 on May 6, up 2.25% (156.02 points) from the previous session. The rapid rally triggered a buy-side sidecar early in the session, temporarily halting program buy orders.

As of 9:19 a.m., retail and foreign investors were net buyers, purchasing 156.7 billion won and 514.4 billion won worth of shares, respectively. Institutional investors, however, sold a net 626.6 billion won.

Among the top 10 stocks by market capitalization, chip giants led the rally. Samsung Electronics surged 10.97%, while SK hynix jumped 9.26%. Shares of Samsung Electronics preferred stock rose 8.37%, and SK Square climbed 12.21%. Other gainers included Hyundai Motor (4.45%), LG Energy Solution (0.95%), Doosan Enerbility (0.94%), and Samsung Electro-Mechanics (1.42%).

On the other hand, Hanwha Aerospace fell 2.66% and HD Hyundai Heavy Industries dropped 3.24%.

At 9:06 a.m., KOSPI 200 futures surged 6.28% from the previous session, prompting the sidecar mechanism in the KOSPI market.

The KOSDAQ index also opened higher, rising 0.59% (7.16 points) to 1,220.90. Retail investors were net buyers of 268.3 billion won, while foreign and institutional investors sold a net 100 billion won and 158 billion won, respectively.

Among KOSDAQ heavyweights, EcoPro BM rose 3.02%, EcoPro gained 1.80%, and HLB advanced 1.31%. In contrast, Alteogen fell 2.55%, Rainbow Robotics dropped 2.34%, and other biotech and tech stocks also traded lower.

Meanwhile, the Korean won weakened slightly, with the won-dollar exchange rate opening at 1,465.8 won, up 3.0 won from the previous session.