SEOUL: South Korea’s benchmark Kospi index topped 6,000 points for the first time on Wednesday, buoyed by the strong performance of the nation’s world-leading semiconductor industry.
The Kospi passed the threshold in the opening minutes of trading, lifted by gains for South Korean chip giants Samsung Electronics and SK hynix.
Both firms boasted record profits earlier this year, riding surging demand for the technology powering artificial intelligence.
The companies are among the world’s top producers of memory chips, supplying high-performance components essential for AI products and the data centres powering the fast-evolving sector.
A global frenzy to build AI data centres has sent orders for advanced, high-bandwidth memory microchips soaring.
South Korea has said it will triple spending on artificial intelligence this year, aiming to join the US and China as one of the top three AI powers.