Weekly Wrap: KOSPI Steady Above 2,600 As Tech Sector Leads Weekly Advance
South Korea's benchmark KOSPI index ended the week of May 26 to May 30 firmly above the 2,600-point level, bolstered by strong gains in the technology sector and improving global trade sentiment.
The KOSPI started the week with a sharp rise, surging over 2% on May 26 following the US administration's move to delay tariffs on the European Union. This policy shift eased investor concerns about escalating global trade conflicts and set a positive tone across Asian markets.
By midweek, the index climbed to an eight-month high of 2,720.64, before easing slightly to close at 2,697.67 on May 30 due to profit-taking ahead of the weekend.
Despite the pullback, the KOSPI managed to post a robust weekly gain and maintain its position well above the psychological 2,600 threshold.
Leading the rally was South Korea's heavyweight tech sector, with semiconductor stocks showing particular strength. Market leaders like Samsung Electronics Co Ltd and Sk Hynix Inc drew strong investor interest amid rising global demand for memory chips and optimism surrounding AI-driven infrastructure development.
Looking ahead, while sentiment remains broadly positive, analysts caution that external risks including upcoming economic data from the US and China, as well as potential interest rate shifts, could influence short-term momentum.
Investors will be watching closely in the coming weeks for signals from the Federal Reserve and updates on trade negotiations, which could determine whether the KOSPI can build on its recent strength or enter a consolidation phase. Related
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