KOSPI breaches 7,500 intraday; Korea's $4.59T market cap overtakes Canada for global #7

South Korea's KOSPI breached 7,500 intraday on Thursday, touching 7,531.88 before closing up 1.43% at 7,490.05. The three-session rally lifted South Korea's total listed market capitalization to $4.59 trillion, overtaking Canada's $4.50 trillion for the world's seventh-largest equity market — just ten days after surpassing the United Kingdom to claim #8.

The advance was broad-based across large-cap industrials and technology. Samsung Electronics (005930.KS) rose 2.07% and SK Hynix (000660.KS) gained 3.31%, both hitting all-time highs. Hyundai Motor (005380.KS) added 4.0%, Doosan Enerbility surged 7.4%, and HD Hyundai Heavy Industries climbed 6.94%. Domestic retail investors net bought ₩5.99 trillion, institutions added ₩1.10 trillion, absorbing foreign selling of ₩7.17 trillion — the second consecutive session of heavy outflows by overseas funds.

A notable milestone: the KOSPI's index value now exceeds the S&P 500's index value (7,365.12). Both tracked near 2,000 as recently as 2014; South Korea's dramatically faster nominal growth — driven by semiconductor and EV battery exports — produced the reversal. Analysts say earnings estimate revisions are outpacing price gains, keeping valuations manageable. Some market participants are targeting KOSPI 9,000 by year-end.

AI tailwinds and robust U.S. exports have consistently pushed Samsung and SK Hynix profit forecasts higher, while global infrastructure demand supports the industrial complex. KOSDAQ closed down 0.91% at 1,199.18, underperforming KOSPI, confirming the rally remains concentrated in blue-chip names.

Key watch points: pace of foreign outflows, Q2 earnings season (June-July), and any global macro shift that could alter won/dollar dynamics. Source: Hankyung.

Not investment advice. Verify all figures with primary sources before acting.