South Korean market cap surpasses 6,000 trillion won for first time

New Delhi [India], April 27 : South Korea's total stock market capitalization exceeded 6,000 trillion won (USD 4.1 trillion) for the first time on record during trading on Monday.

According to a report by The Korea Herald, the combined market capitalization of the domestic exchanges reached 6,031.97 trillion won during early trading hours. Citing data from the Korea Exchange, the report noted that the benchmark Kospi accounted for 5,354.36 trillion won of this total. The secondary Kosdaq and the entry-level Konex stood at 673.97 trillion won and 3.64 trillion won, respectively.

"The milestone comes as the Kospi extended its rally, opening higher and climbing to an intraday record of 6,603.01, surpassing the 6,600 mark for the first time," the report said.

The Kosdaq also gained ground, rising more than 1 per cent after breaking above the 1,200 level for the first time in about 25 years last Friday.

Market heavyweights led the upward advance throughout the morning. "As of 10:35 a.m., Samsung Electronics rose 1.25 per cent to 222,250 won. SK hynix surged 5.32 per cent to reach 1,287,000 won, which represented a fresh all-time high for the semiconductor company," the report highlighted.

Asian markets displayed a strong, albeit fragmented, performance with major gains concentrated in North Asian technology hubs.

As of 12:20 pm IST, the Taiwan Weighted and Japan's Nikkei 225 showed gains of 1.73 per cent and 1.18 per cent, respectively, largely driven by a global breakout in semiconductor and AI-related equities.

In India, the GIFT NIFTY reflected steady optimism with a 0.43 per cent uptick, hovering around the 24,000 mark.

However, this bullish momentum is being partially offset by caution in Hong Kong and Singapore; the Hang Seng and Straits Times indices are trading in the red, down 0.25 per cent and 0.57 per cent, as investors weigh persistent geopolitical uncertainties in the Middle East and the resulting volatility in global energy supplies.

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