South Korea's Kospi hits record as SK Hynix joins US$1 trillion club after Samsung, Micron
FILE PHOTO: The SK Hynix logo appears in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
SEOUL: South Korea's benchmark Kospi stock index hit an all-time high on Wednesday (May 27) as SK Hynix joined its memory chip rivals Samsung Electronics and Micron Technology in the US$1 trillion market capitalisation club on an AI-driven rally.
The Kospi rose as much as 5 per cent to 8,450.26, its highest on record, with the sharp gains triggering a "sidecar" curb that temporarily halted algorithmic trading.
Shares of SK Hynix jumped as much as 11.1 per cent, taking the chipmaker's market value to a record 1,624 trillion won (US$1.08 trillion).
Strong demand for high-end memory chips used in AI chipsets like those designed by Nvidia has tightened supply and driven up prices, benefiting the world's biggest makers of the semiconductors.
South Korea's Samsung Electronics surpassed US$1 trillion in market value for the first time on May 6, while US-listed Micron Technology did so on Tuesday.
With Wednesday's rally, which also pushed Samsung Electronics shares up as much as 8 per cent to a fresh record high, the electronics giant and SK Hynix accounted for 50 per cent of South Korea's benchmark index by market capitalisation.
The Kospi, which has emerged as the world's best performer in a global AI boom, has risen 98 per cent so far this year, after rising 76 per cent last year.
Samsung Electronics shares have risen 165 per cent so far this year, while SK Hynix shares are up 245 per cent and Micron Technology shares are up 214 per cent.
