Kospi Hits Record 6,936.99 on SK Hynix Rally

South Korea's benchmark Kospi index surged more than 5 percent on Monday, May 4, 2026, closing at a record 6,936.99 points for the first time above the 6,900 mark, propelled by sharp gains in semiconductor stocks led by SK Hynix.

SK Hynix shares rocketed 12.2 percent to close at 1,447,000 Korean won ($955), after touching an intraday high of 1,407,000 won and pushing the company's market capitalization above 1 quadrillion won ($680 billion) for the first time. The milestone made SK Hynix the second Korean firm to reach that level, following Samsung Electronics. Samsung shares climbed 5.4 percent to 232,500 won, crossing the 230,000-won threshold amid heavy foreign and institutional buying.

The rally followed strong quarterly earnings from major U.S. technology companies last week, which highlighted increased capital spending on artificial intelligence infrastructure. SK Hynix, a key supplier of high-bandwidth memory chips essential for AI processors, benefited from heightened demand. The company reported first-quarter operating profit of 3.76 trillion won, up 96 percent from the prior quarter, with DRAM and NAND margins at 78 percent and 52 percent, respectively.