The KOSPI index delivered its strongest weekly performance since 2008, closing Friday with a modest 0.11% gain amid mixed trading. Kosdaq climbed 0.71%, while KOSPI 200 futures dipped 0.47%. A robust rally in semiconductor stocks, spearheaded by Koh Young Technology’s surprise surge, propelled the market higher despite renewed U.S.-Iran trade tensions.
Semiconductor Sector Drives Gains
Semiconductor heavyweights fueled the uptrend. SK Hynix drew significant inflows, alongside momentum from Boston Dynamics-related U.S. developments and Samsung Electronics. Physical AI-themed stocks posted strong advances, with net buying concentrated among foreigners in individual stock futures. This buying offset broader market pressures, sustaining weekly momentum.
KOSPI defended the 7,500 support level for four straight sessions, while Kosdaq achieved 1,200 sales success, outpacing the benchmark. Overall, chip employment totals rose by 1,200 points, reflecting U.S. index rebounds.
U.S. Markets Rebound on Strong Jobs Data
U.S. indices advanced Friday: S&P 500 rose 0.84%, Nasdaq surged 1.71%, and Dow edged up 0.02%. Traders welcomed April’s employment report, where unemployment held at 4.3% in line with forecasts, and nonfarm payrolls added 115,000 jobs—far exceeding the expected 62,000. This data eased concerns over economic resilience.
Pre-market futures climbed on former President Trump’s ceasefire remarks and falling oil prices. Semiconductors reversed a two-day slide, led by rumors of an Intel-Apple production pact. Micron notched its largest one-year gain, while Nvidia saw heavy call option buying amid collaboration buzz.
S&P 500 and Nasdaq hit record highs, with buying focused on core names. Nasdaq 100 trades near 2000 dot-com bubble peaks relative to its 50-day moving average, heightening volatility concerns as VIX and VVIX spiked.
Geopolitical Tensions Linger
U.S.-Iran frictions intensified after Iran rejected a ceasefire proposal, which Trump deemed unacceptable. Markets eye upcoming U.S.-China summit talks, tempering downside risks. Aramco’s CEO warned of prolonged oil market chaos, stating recovery to normalcy could take several months.
Outlook: CPI in Focus
Today’s KOSPI futures track AI themes and foreign buying shifts. Investors anticipate Tuesday’s CPI data, which could dictate inflation pressures and further upside potential.
