South Korea's benchmark stock index, the KOSPI, reached a record level on Tuesday as technology-sector strength lifted the broader market. The index advanced as much as 2.2% to a high of 6,355.39 points.
Among individual contributors, SK Hynix Inc was the most influential. The company rose by more than 4% to a record share price after extending gains from the previous trading session. The rally followed SK Hynix's announcement that it had started mass production of a key memory module intended for advanced AI processors developed by NVIDIA.
SK Hynix is a major supplier to NVIDIA and has seen substantial benefits from elevated demand for memory chips within the AI industry. The stock's momentum was further amplified by online speculation, described as baseless, that the company should distribute a portion of its unusually large profits to the public.
Peer Samsung Electronics Co Ltd also contributed to the market's advance, rising 2% on the day and moving nearer to its own record high.
Investor sentiment in wider Asian markets was also positive. Traders noted some optimism that the United States and Iran could hold additional peace talks before a ceasefire is set to expire this week, an expectation that bolstered risk appetite across the region and supported equity gains beyond Korea's technology names.
Market participants pointed to the confluence of strong corporate developments in the memory sector and improving geopolitical sentiment as the proximate drivers for the KOSPI's move to a new peak. Sources of upward pressure included the concrete production milestone reported by SK Hynix and the resulting indications of robust demand for memory components serving AI workloads.
Context limitations: The reporting above is limited to the developments described for the trading session, including corporate announcements and market reactions noted for the day. No additional performance figures beyond those stated were provided.