South Korea's stock market breaks 5,000 for first time powered by AI
South Korea's benchmark index, the KOSPI, marked a milestone after it went beyond the 5,000 level for the first time. It pared back gains to end the session just below that level, but that was still a new record close for the benchmark. The rally was largely fueled by the global artificial intelligence boom, and strong gains in chipmakers, especially from the country's two most valuable stocks, Samsung and S-K Hynix. But evidence of South Korea's slowing domestic demand is piling up. The country's GDP shrank in the final quarter of last year. Still, the KOSPI hitting that 5,000 level meets a key goal set by President Lee Jae Myung, just about six months into his five-year term. Lim Yun Suk reports.
South Korea's benchmark index, the KOSPI, marked a milestone after it went beyond the 5,000 level for the first time. It pared back gains to end the session just below that level, but that was still a new record close for the benchmark. The rally was largely fueled by the global artificial intelligence boom, and strong gains in chipmakers, especially from the country's two most valuable stocks, Samsung and S-K Hynix. But evidence of South Korea's slowing domestic demand is piling up. The country's GDP shrank in the final quarter of last year. Still, the KOSPI hitting that 5,000 level meets a key goal set by President Lee Jae Myung, just about six months into his five-year term. Lim Yun Suk reports.
Popular Shows
