KOSPI breaks through 6,000… Nvidia tailwind fuels ‘more upside’ [Market Preview]

The KOSPI has surpassed the 6,000 mark for the first time ever, extending the steepest rally among major stock markets worldwide. With U.S. equities rebounding across the board overnight, expectations for the market on the 26th are also rising.

According to the Korea Exchange on the 25th, the KOSPI closed at 6,083.86, up 1.91% from the previous session. It briefly surged as high as 6,144.71 intraday. Retail and institutional investors drove the index higher. Retail investors net bought 643.3 billion won, while institutions turned to net buying after an early sell bias, purchasing 675.8 billion won. Foreign investors net sold 1.4988 trillion won.

Semiconductor ‘top two’ Samsung Electronics and SK hynix extended their record run, hitting new all-time highs again following the previous session. Samsung Electronics ended at 203,500 won, up 1.75% from the previous day, while SK hynix closed at 1,018,000 won, up 1.29%.

On the 25th (local time), Samsung Electronics’ unveiling of the Galaxy S26 series may also have had a positive impact on the stock. The company held its ‘Galaxy Unpacked 2026’ event in San Francisco, where it introduced the Galaxy S26 lineup, putting AI features front and center.

Overnight, major U.S. stock indexes rose in tandem. The Dow Jones Industrial Average closed at 4,9482.15, up 307.65 points (0.63%) from the prior session. The S&P 500 gained 56.06 points (0.81%) to 6946.13, and the Nasdaq Composite jumped 288.40 points (1.26%) to finish at 2,3152.08.

Ahead of Nvidia’s earnings release, buying concentrated in AI and semiconductor-related stocks. All mega-cap technology companies with market capitalizations above $1 trillion advanced. Nvidia rose 1.44%, while Microsoft jumped 2.99%. The Philadelphia Semiconductor Index also climbed 1.62%.

Nvidia’s fourth-quarter results for last year, released after the close, beat expectations on both revenue and earnings per share (EPS). Fourth-quarter revenue came in at $68.1 billion, and adjusted EPS at $1.62. Market expectations compiled by LSEG were $66.2 billion in revenue and $1.53 in EPS.

Seo Sang-young, a researcher at Mirae Asset Securities, said, “Today’s Korean stock market is likely to maintain its upward momentum as the software sector shows strength in the U.S. market after putting AI-related concerns behind it,” adding that “it is also positive that Nvidia’s post-close earnings release was solid.”

Han Ji-young, a researcher at Kiwoom Securities, said, “Nvidia’s earnings surprise could provide at least a neutral-to-positive effect on domestic semiconductor stocks such as Samsung Electronics and SK hynix,” but added, “however, given the mixed interpretations in the market, we should keep in mind the possibility of short-term noise.”

Reporter Park Ju-yeon grumpy_cat@hankyung.com