Kospi Reclaims 7,000 Intraday for First Time in Over a Month as Chip, Nuclear Stocks Rise

The Kospi reclaimed the 7,000 level in intraday trading for the first time in more than a month on Sept. 8, supported by stronger demand expectations for artificial intelligence semiconductors and optimism over U.S.-South Korea cooperation on nuclear power.

As of 9:04 a.m., the Kospi was up 31.08 points, or 0.44%, at 7,026.47. It was the first time the index had traded above 7,000 during the session since Aug. 18.

U.S. markets were closed overnight for Labor Day, but sentiment in Seoul remained buoyed by AI semiconductor optimism following gains a day earlier. OpenAI recently unveiled Astra, a new AI model classified at the "Critical" risk level under its security rating system, highlighting expectations that demand and prices for high-capacity memory could rise further.

Institutions led the gains. On the main Kospi market, they were net buyers of 149.2 billion won, while foreigners and retail investors were net sellers of 130.6 billion won and 21.7 billion won, respectively.

Moves in heavyweight semiconductor stocks were limited. Samsung Electronics rose 0.19% and SK Hynix added 0.06%. Nuclear power stocks, however, gained on expectations for cooperation between Seoul and Washington. KEPCO Engineering & Construction jumped 7.52%, Samsung E&A and Daewoo Engineering & Construction each climbed 6.46%, and Doosan Enerbility advanced 4.78%.

The Kosdaq also extended its advance to a third straight session. At the same time, the index was up 0.73% at 828.2. Semiconductor materials, parts and equipment shares also rose, including Jusung Engineering, up 5.24%, Leeno Industrial, up 3.07%, HPSP, up 2.63%, and EO Technics, up 2.19%.