SK hynix eases AI peak fears, pushing KOSPI above 6,000

South Korea's KOSPI stock market index rebounded strongly, closing above 6,000 for the first time since its decline. This rise is largely due to SK hynix, a leading chipmaker, easing concerns that the artificial intelligence boom is slowing down. The company's forecast of continued semiconductor shortages through 2030, combined with record earnings and a generous shareholder return plan, has boosted investor confidence. As a result, chip-heavy stocks led the market's surge, with the KOSPI index closing at 6,012.44, up 6.63 percent.

Why it matters

SK hynix's forecast of semiconductor demand has eased fears of a peak in the AI boom, which could lift investor sentiment. This could lead to increased investment in the technology sector, driving up the KOSPI index.

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