South Korean Stocks Reach New Record High Amid Hopes for Seoul-Washington Summit
South Korean stocks surged to a new record high on Wednesday, driven by hopes for a potentially groundbreaking supply deal between Nvidia and Samsung Electronics, along with a meeting between the leaders of the two nations. The Korea Composite Stock Price Index (KOSPI) added 70.74 points, or 1.76 percent, to close at 4,081.15, with a record-high trade volume of 461 million shares worth 21 trillion won (US$14.6 billion). Investors flocked to tech shares, with Samsung Electronics, SK hynix, and LG Energy Solution leading the charge.
Key Takeaways:
- South Korean stocks reached a new record high, with the KOSPI rising 1.76 percent to 4,081.15.
- The local currency, the won, strengthened against the US dollar, trading at 1,431.7 won at 3:30 p.m., up 6 won from the previous session.
- Trade volume reached a record high at 461 million shares worth 21 trillion won (US$14.6 billion), with a net outflow of 663.5 billion won from foreigners.
- Institutions bought a net 641.1 billion won, while individuals offloaded a net 4361.8 billion won.
- Tech shares, particularly Samsung Electronics and SK hynix, saw significant gains, increasing 1.01 percent and 7.1 percent, respectively.
- The market was driven by reports of a potential AI chip supply deal between Nvidia, Samsung Electronics, SK Group, and Hyundai Motor Group.
- The market also anticipated a meeting between Nvidia CEO Jensen Huang and business leaders during his visit to the Asia Pacific Economic Cooperation (APEC) CEO Summit.
Statistics:
- KOSPI: 4,081.15 (up 70.74 points, or 1.76 percent).
- Trade volume: 461 million shares (record high).
- Trade value: 21 trillion won (US$14.6 billion).
- Net outflow from foreigners: 663.5 billion won.
- Net purchase by institutions: 641.1 billion won.
- Net sale by individuals: 4361.8 billion won.
Sources:
- Yonhap News Agency (October 29, 2025)