SEOUL - South Korean shares hit an all-time high Monday, fueled by a surge in chipmakers as the artificial intelligence boom continues to drive demand. The benchmark Kospi index soared more than 5% to a record 7,876.60, triggering a trading curb.
Samsung Electronics jumped more than 5%, while SK Hynix surged over 10%, with both companies reaching record levels. The rally follows a 5.5% gain in the Philadelphia Semiconductor Index on Friday, where Micron Technology spiked 15.5%.
South Korea's exports rose nearly 44% in the first 10 days of this month, led by a 150% spike in chip sales. The Kospi has climbed 85% this year, making it the world's best-performing stock market.
Analysts warn of short-term volatility. Han Ji-young at Kiwoom Securities said profit-taking pressure is rising, and semiconductor stocks could see sharper swings as the Kospi extends its gains.
Automakers and battery makers also advanced, though declining stocks outnumbered gainers. The won weakened against the dollar, while benchmark bond yields were mixed.