[Edaily Reporter Kim Kyung-eun] On the 18th, the KOSPI made history by breaking through the 9,000-point mark for the first time ever during intraday trading. This occurred even as the New York stock market fell following the first Federal Open Market Committee (FOMC) meeting under Fed Chair Kevin Warsh, which yielded a more hawkish outcome than expected, thanks to domestic semiconductor stocks leading the rally.
According to MP Doctor, as of 1:35 p.m., the KOSPI is trading at 9,039.52, up 175.28 points (1.98%) from the previous trading day. It briefly rose to 9,040.52 during the session, showing a relentless upward trend.
Despite adverse external factors—such as the U.S.-Iran conflict, soaring international oil prices, and speculation about U.S. interest rate hikes—the KOSPI has surged nearly twofold to reach the 9,000 mark just over five months after entering the 5,000 era, driven by a earnings-led rally in the semiconductor sector and the government’s shareholder return policies.
Consequently, the market capitalization of the KOSPI has surpassed 7,300 trillion won.

Based on closing prices, after breaking through the 5,000 mark for the first time in history on January 27 of this year, it reached the 6,000 mark on February 25 (just 18 trading days later), the 7,000 mark on May 6 (47 trading days later), and the 8,000 mark on May 26 (just 13 trading days later), continuing its steep upward trend at an unprecedented pace with each 1,000-point milestone.
The securities industry views the KOSPI reaching 10,000 points as a foregone conclusion—merely a matter of time. Lee Kyung-min, an analyst at Daishin Securities, stated, “We are still in a phase where economic and earnings momentum remains strong, outweighing concerns over interest rate hikes,” adding, “The KOSPI’s 12-month forward price-to-earnings ratio (PER) has just recovered to 8 times, so entering the 10,000 era is possible simply through valuation normalization.”
Looking at KOSPI forecasts by securities firm for the remainder of the year, Eugene Investment & Securities (10,400 points), Hana Securities (10,380 points), KB Securities (10,500 points), DB Securities (11,700 points), and Daishin Securities (11,500 points) all project the index will break through the 10,000-point mark.
Semiconductors are undoubtedly the primary driver of the KOSPI’s rise. Samsung Electronics, the company with the largest market capitalization, has risen 189% year-to-date, while SK Hynix, ranked second, has surged 287%, leading the index higher.
Semiconductors are once again driving the index higher today as they rebound. As of this writing, #SK Hynix is trading at 2,696,000 won, up 175,000 won (6.94%). News of the start of sample shipments for the 12-layer HBM4E has boosted investor sentiment. #Samsung Electronics is also up 9,750 won (2.81%) to 356,250 won.
By investor type, retail investors are leading the market. Since the start of the year (as of the previous day), retail investors have purchased 73.353 trillion won worth of stocks on the KOSPI market. Foreign investors sold 121.134 trillion won worth of stocks during the same period. Institutions also bought 34.233 trillion won worth of stocks, meaning domestic investors—including retail and institutional investors—are driving the market.
However, amid an extreme concentration of buying and selling in large-cap semiconductor and IT stocks, there is a significant disparity in returns among individual stocks. Today, too, the number of stocks that fell (798) far outnumbered those that rose (107).
Meanwhile, while the KOSPI index was celebrating, the KOSDAQ fell 33.85 points (3.28%) to 998.11, breaking below the 1,000 mark.