7000 Is Back: As Samsung Electronics and SK hynix Rally, the KOSPI Also Touched 7,200 in Morning Trading [Morning Market Update]

[Financial News] The KOSPI climbed above the 7,200 level intraday, driven by sharp gains in major semiconductor stocks such as Samsung Electronics and SK hynix. While the U.S. stock market showed strength led by chip shares despite geopolitical tensions from the Middle East, buying in the domestic market has also concentrated on the two semiconductor heavyweights.
According to the Korea Exchange on the 18th, the KOSPI stood at 7,149.00 as of 10 a.m., up 171.06 points, or 2.45%, from the previous session. The index opened at 7,127.77, up 149.83 points, or 2.15%, and surged as high as 7,216.62 during the session.
If the KOSPI closes above 7,000, it would be the first time in 17 trading days, since the 24th of last month.
Samsung Electronics and SK hynix are leading the index higher. At the same time, Samsung Electronics was trading at 282,500 won, up 8,000 won, or 2.91%, from the previous session. It rose as high as 288,000 won intraday, coming close to the 290,000-won mark.
SK hynix posted an even larger gain. The stock was trading at 1,758,000 won, up 113,000 won, or 6.87%, from the previous session. It climbed to as high as 1,792,000 won during the session, nearing the 1.8 million-won level.
Investor sentiment was lifted by the strength in semiconductor stocks on Wall Street overnight. Although major New York Stock Exchange indexes fell under pressure from rising international oil prices and concerns over U.S. Treasury yields, the Philadelphia Semiconductor Index (SOX) rose 1.64%. Gains in memory-related names such as SanDisk Corporation and Micron Technology, Inc. are also spilling over into Korean chip stocks.
Analysts say expectations for stronger memory demand and a prolonged supply shortage, driven by expanded investment in AI data centers, are pushing up the share prices of Samsung Electronics and SK hynix at the same time.
However, despite the index's rise, stock-specific divergence remains pronounced across the market. As of 10 a.m. on the Korea Exchange Main Board, there were only 281 advancing stocks, while 587 declined, more than twice as many. Large-cap stocks rose 2.72%, but mid-cap and small-cap stocks fell 0.60% and 0.56%, respectively.

[email protected] Choi Du-seon Reporter