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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting the growing dominance of the tech sector in Asian markets, SK Hynix shares surged nearly 7% during Tuesday's trading. According to reports, this rally was driven by Nvidia's blowout quarterly results, which reset global expectations for AI hardware demand. This momentum propelled South Korea's benchmark KOSPI index to cross the 8,000-point mark for the first time in its history, further supported by hopes for a US-Iran framework agreement that eased oil price pressures.
This historic milestone for the KOSPI comes as Asian semiconductor stocks experience accelerated growth, with SK Hynix benefiting from its position as a key supplier of High Bandwidth Memory (HBM) to Nvidia. Compared to peers, shares of Samsung Electronics and TSMC saw similar positive movements reflecting investor optimism in the chip sector, per market data. The easing of geopolitical risks also improved risk appetite, leading the Korean index to outperform regional peers during the session.
Traders should watch for the sustainability of KOSPI levels above the 8,000 threshold in upcoming sessions, especially with the FOMC Minutes scheduled for release on May 20, 2026, which could impact global liquidity trends. Markets are also awaiting Japan's Balance of Trade data on the same day for signals regarding the strength of regional tech exports. Current support levels for the index remain near previous peaks, amid expectations of continued volatility in the tech sector based on AI demand catalysts.