KOSPI Enters '9,000-Point Era': SK Hynix HBM4E Supply Sparks Rally, CSOP ETF Debuts on HKEX on Same Day

TradingKey - During the Asian trading session on June 18, South Korea's KOSPI index broke above the key 9,000-point level for the first time in history, rising over 1.5% intraday, with a cumulative year-to-date gain of over 110%.

[Source: TradingView]

As of press time, SK Hynix rose over 5% to break the 2.6 million won mark, hitting another record high, while Samsung Electronics gained over 2% to trade at xx won. The two memory chip giants collectively account for over 50% of the index's weight and have contributed to the vast majority of its gains this year.

On the same day, the CSOP KOSPI 200 ETF (03121.HK) was officially listed on the Hong Kong Stock Exchange (HKEX), becoming the only ETF in Hong Kong to track the KOSPI 200 Index, and the only KOSPI 200 ETF listed outside South Korea in the Asia-Pacific region. The ETF rose over 1.6% on its debut. The top five constituents of the KOSPI 200 Index are Samsung Electronics, SK Hynix, SK Square, Samsung Electro-Mechanics, and Hyundai Motor.

This breakthrough was driven by multiple factors. SK Hynix announced on the same day that it has supplied samples of its 12-layer HBM4E to major customers, a product featuring a pin speed of up to 16 Gbps and an energy efficiency improvement of over 20%. Additionally, the U.S. and Iran signed a ceasefire memorandum of understanding (MoU), causing Brent crude to fall below $80 per barrel, which eased inflation worries.

Previously, Morgan Stanley raised its target price for the KOSPI to 9,000 points, while Goldman Sachs raised its target even further to 12,000 points. With the official breakthrough of the historic 9,000-point mark, the South Korean stock market has officially entered the '9,000-point era.' However, the market should also remain cautious of potential pullback risks stemming from the index's heavy reliance on the semiconductor sector.