Korean stocks surge to all-time high on chip rally

Apr 21, 2026, 11:09 am

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Dealers work in the dealing room of Hana Bank headquarters in Seoul on April 21, as the KOSPI hits a record high during trading. / Yonhap

South Korea’s benchmark KOSPI index surged to a new all-time high during intraday trading on April 21, driven by strong gains in semiconductor stocks and bullish forecasts from global investment banks.

As of 9:25 a.m., the KOSPI rose 124.79 points, or 2.01%, to 6,343.88. The index opened higher at 6,302.54 and extended gains, at one point reaching 6,355.39—surpassing its previous record of 6,347.41 set on Feb. 27.

The rally was led by chipmakers, including SK hynix, which climbed to an all-time high of 1.217 million won during trading. Samsung Electronics also gained 1.98%. Battery-related stocks such as LG Energy Solution and Samsung SDI rose 6.29% and 6.13%, respectively, adding momentum to the index.

Foreign and institutional investors were net buyers, purchasing 493.7 billion won and 185.8 billion won worth of shares, respectively, while retail investors sold 662 billion won to take profits.

Market sentiment was further boosted by optimistic projections from global investment banks. Goldman Sachs forecast that KOSPI earnings could grow by 220% this year and projected the index could surpass 8,000 within the next 12 months. JPMorgan Chase also offered a bullish outlook, suggesting the index could climb as high as 8,500, citing improved earnings led by semiconductor companies.

Despite the rally, external uncertainties remain. Concerns over whether a second round of ceasefire talks between the United States and Iran will begin have weighed on global markets. Overnight, all three major U.S. stock indexes closed lower amid mixed sentiment.

In the foreign exchange market, the Korean won strengthened slightly, with the won-dollar exchange rate opening at 1,472.4 per dollar, down 4.8 won from the previous session.

Han Ji-young, an analyst at Kiwoom Securities, said, “Despite a wait-and-see stance on Middle East negotiations, sector rotation is occurring, supported by expectations for the earnings season.”

#KOSPI #SK hynix #Samsung Electronics #Goldman Sachs #JP Morgan