KOSPI Breaks 8,000 for First Time on AI Boom and US-China Summit

KOSPI shattered the 8,000-point barrier for the first time in intraday trading on May 15, 2026, capping a dramatic one-year ascent from roughly 2,600 points and a sprint of just seven sessions since crossing 7,000. The benchmark index had flirted with the milestone a day earlier, peaking at 7,991.04 on the morning of May 14 before closing at a then-record 7,981.41, up 1.75 percent. The rally drew strength from two forces: a global artificial intelligence boom supercharging demand for high-performance chips, and a Beijing summit between U.S. President Donald Trump and Chinese President Xi Jinping that eased geopolitical tensions.

The AI trade powered South Korean semiconductor giants Samsung Electronics and SK hynix, which gained 190 percent and 220 percent respectively over six months and both reported record first-quarter earnings. Individual investors led the charge with net purchases of approximately 510 million dollars. KB Securities raised its year-end KOSPI target to 10,500, citing global AI investment and a strong semiconductor and robotics industrial mix. The South Korean government announced plans to triple AI spending to become a top three global AI power.

On the diplomatic front, Trump traveled to China accompanied by Nvidia CEO Jensen Huang, Tesla CEO Elon Musk, and Apple CEO Tim Cook. Xi held a 135-minute summit with Trump and met with the business leaders, pledging to expand China's openness to U.S. companies. The two presidents agreed that the Strait of Hormuz must remain open and that Iran must not possess nuclear weapons, further lifting investor sentiment. Nvidia's Wall Street rally added momentum, while the Korean won traded at 1,491.9 against the dollar.