Semiconductors Drive KOSPI Above 6,500 for the First Time

KOSPI Surpasses 6,500 Points for the First Time

SK hynix Posts Surprise Q1 Earnings

"Semiconductor Earnings to Rise Further"... Forecasts for Over 8,000 Continue

On April 23, 2026, as optimism grew over the resumption of peace talks between the United States and Iran leading to gains in the three major New York Stock Exchange indexes, the KOSPI also broke through the 6550 mark during the day, setting an all-time high. In the dealing room of Hana Bank’s headquarters in Jung-gu, Seoul, an employee is monitoring the stock market and exchange rates. Photo by Jo Yongjun

SK hynix announced a surprise earnings report that far exceeded market expectations, propelling the KOSPI to break through the 6,500-point mark in a single leap and setting a new all-time high for three consecutive days. With optimism continuing over the possibility of a peace agreement between the U.S. and Iran, and semiconductor earnings forecasts being revised upward, some analysts now predict that the KOSPI could not only surpass 7,000 but even break through 8,000.

KOSPI Surpasses 6,500 Points for the First Time

On April 23, the KOSPI opened at 6,488.83, up 1.10% from the previous trading day, and continued to gain, trading at 6,548.15 as of 9:45 a.m., a 2.03% increase. The KOSPI had already broken its previous high on the 21st and, after surpassing the 6,400-point mark for the first time the day before, exceeded 6,500 points shortly after the market opened today, marking a new all-time high for three consecutive days.

The KOSDAQ, meanwhile, was trading at 1,174.59, down 0.55% from the previous session. The won-dollar exchange rate opened at 1,478.0 won, up 2.0 won from the previous day, and has remained at a similar level during trading.

The positive trend in the domestic stock market was influenced by overnight gains in the three major U.S. stock indexes, buoyed by renewed hopes for renewed negotiations between the U.S. and Iran and the strong performance of tech stocks. On April 22 local time, the Dow Jones Industrial Average closed up 0.69%, while the Standard & Poor's (S&P) 500 Index and the Nasdaq Composite gained 1.05% and 1.64%, respectively. Both the S&P 500 and Nasdaq set new all-time closing highs. Major tech stocks such as Micron (up 8.48%) and Apple (up 2.63%) led the rally, with the Philadelphia Semiconductor Index climbing 2.72% and extending its winning streak to 16 sessions.

The domestic market was further boosted by SK hynix's first-quarter results, announced this morning, which exceeded market expectations. SK hynix reported record-breaking quarterly results for the first quarter of this year, with sales of 52.6 trillion won and operating profit of 37.6 trillion won. These figures surpassed the FnGuide consensus estimates of 51.93 trillion won in sales and 36.39 trillion won in operating profit.

Following SK hynix's surprise earnings report, share prices of other domestic semiconductor companies are also climbing sharply. As of 9:28 a.m., SK hynix was trading at 1,259,000 won, up 2.94% from the previous session, marking a new all-time high. Samsung Electronics was also nearing its all-time high, trading at 227,000 won, up 4.37%. SK Square (up 5.49%) and Hanmi Semiconductor (up 2.21%) were also rising. Automaker stocks such as Hyundai Motor (up 0.55%) and Kia (up 0.81%), as well as Doosan Enerbility (up 5.09%), were also on the rise.

In contrast, secondary battery stocks such as LG Energy Solution (down 4.33%) and Samsung SDI (down 2.88%) were falling, as were Hanwha Aerospace (down 0.71%), Samsung Biologics (down 0.51%), and HD Hyundai Heavy Industries (down 3.28%). On the KOSPI, foreign investors and institutions were net buyers by approximately 440 billion won and 330 billion won, respectively, helping to lift the index. In contrast, individual investors were net sellers by 740 billion won.

Semiconductor Earnings Expected to Climb Higher, Forecasts for Over 8,000 Continue

With expectations that semiconductor earnings will continue to improve through next year, some analysts now believe that the KOSPI surpassing 7,000 points is within reach. Morgan Stanley recently made a significant upward revision to its earnings estimates for Samsung Electronics and SK hynix. Morgan Stanley raised its 2027 operating profit forecast for Samsung Electronics from 36.7 trillion won to 63.1 trillion won, and for SK hynix from 29.8 trillion won to 40.8 trillion won. In particular, Morgan Stanley's operating profit estimate for Samsung Electronics next year is the highest among all brokerage forecasts to date.

Thanks to the improving earnings prospects for semiconductor companies such as Samsung Electronics and SK hynix, there are also projections that the KOSPI could surpass 8,000 within a year. On April 17, JP Morgan released a Korea investment strategy report, raising its KOSPI target to as high as 8,500 points. The main rationale for this upward revision was improved earnings in the memory semiconductor sector. Goldman Sachs also raised its KOSPI target to 8,000 points on April 20, citing similar grounds.

Han Ji-young, a researcher at Kiwoom Securities, commented, "Today's domestic stock market is being buoyed by the record highs in the U.S. stock market, led by major sectors such as semiconductors, and optimism for first-quarter earnings in key domestic stocks," adding, "The significant upward revision to earnings estimates for Samsung Electronics and SK hynix by Morgan Stanley yesterday is also a positive factor."

This content was produced with the assistance of AI translation services.