Samsung Electronics saw a nearly 6% surge, closing at a record high. Its market capitalization, including preferred shares, surpassed 2 trillion won for the first time in history.
On May 29, the Korea Exchange reported that Samsung Electronics finished trading at 317,000 won, up 5.84% from the previous day. This surpasses the previous closing high of 307,000 won set on May 27, following a stock split in 2018.
The stock opened at 309,500 won, rising to an intraday high of 319,000 won. Samsung's preferred shares also closed up 6.08% at 202,500 won.
Thanks to this upward trend, Samsung's market capitalization exceeded 2 trillion won for the first time. The closing market cap for Samsung Electronics was 1,853.27 trillion won, while the preferred shares accounted for 162.48 trillion won, bringing the combined total to 2,015.75 trillion won.
SK Hynix, another major player in the semiconductor industry, also continued its upward momentum. The stock reached an intraday high of 2,379,000 won, surpassing its previous peak of 2,358,000 won, and closed at 2,333,000 won, up 1.92% from the previous day.
The strong performance of semiconductor stocks is attributed to improved global investor sentiment and expectations surrounding artificial intelligence (AI). The potential resolution of the U.S.-Iran conflict has led to stabilization in international oil prices and market interest rates, fostering a preference for riskier assets.
Lee Kyung-min, a researcher at Daishin Securities, noted, "As expectations for the end of the U.S.-Iran conflict spread, stability in oil prices and interest rates has sustained the strength of leading stocks, including Samsung Electronics, Samsung Electro-Mechanics, and LG Innotek."
U.S. markets also showed strong performance overnight. The S&P 500 and Nasdaq indices rose by 0.58% and 0.91%, respectively, reaching all-time highs, while the Dow Jones Industrial Average increased by 0.05%. The Philadelphia Semiconductor Index also rose by 1.00%, supporting investor sentiment in the semiconductor sector.
Expectations for AI-related business developments have further contributed to the rise in stock prices. Samsung Electronics announced the world's first shipment of samples for HBM4E, the next-generation product of high-bandwidth memory (HBM), drawing significant investor interest.
* This article has been translated by AI.
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