KOSPI surges 4.3% to record 7,822; SK Hynix (000660.KS) +11%, Samsung Electronics (005930.KS) +6%

South Korea's KOSPI closed at 7,822.24 on May 11, up 324.24 points (+4.32%), setting a fresh all-time high. The index touched an intraday peak of 7,899.32 (+5.35%), leaving just 177.76 points (2.24%) before the 8,000 level. Total market cap exceeded KRW 7 trillion for the first time, just eight trading days after crossing KRW 6 trillion on April 30.

Semiconductors Lead the Rally

SK Hynix (000660.KS) gained more than 11%, clearing the 190,000 KRW mark. Samsung Electronics (005930.KS) rose more than 6%, crossing 280,000 KRW. Samsung C&T gained over 6%, while SK Square — which holds a stake in SK Hynix — climbed more than 8%.

The catalyst was the previous session's U.S. tech breakout. On May 8, the Philadelphia Semiconductor Index surged 5.51% and both the S&P 500 and Nasdaq hit all-time highs. Korean semiconductor names, seen as direct AI-cycle beneficiaries, repriced accordingly.

Net Flows: Domestic Buyers Absorb Foreign Selling

Individual investors net-bought KRW 2.87 trillion; institutions added KRW 624 billion. Foreign investors net-sold KRW 3.49 trillion in profit-taking — yet did not halt the rally. The KOSDAQ ended flat at 1,207.34 (−0.03%), confirming the move was concentrated in large-cap names. The KRW/USD rate was little changed at 1,472.4 KRW.

Path to 8,000

The KOSPI sits 177.76 points (2.24%) from 8,000. The pace of advance — KRW 6 trillion to KRW 7 trillion market cap in eight sessions — suggests sustained momentum. Near-term risks center on the durability of U.S. chip demand and the trajectory of foreign capital after today's KRW 3.49 trillion outflow.