(LEAD) KOSPI opens at fresh high on chip rally amid woes over breakdown of peace deal

▲ The dealing room at Hana Bank in central Seoul on May 11, 2026 (Yonhap)

(LEAD) stocks-open

(LEAD) KOSPI opens at fresh high on chip rally amid woes over breakdown of peace deal

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SEOUL, May 11 (Yonhap) -- South Korean stocks opened at a fresh record high Monday, easily breaching the 7,700-point mark, boosted by an extended rally of blue chip semiconductor shares, despite woes over the U.S.-Iran peace deal at the risk of rupture.

After briefly topping another historic landmark of 7,800, the benchmark Korea Composite Stock Price Index (KOSPI) had risen 265.27 points, or 3.54 percent, to 7,763.27 points as of 9:15 a.m.

The index nearly breached the 7,500-point threshold Friday, closing at a fresh peak of 7,498 points and continuing its record-breaking run.

The surge came even after U.S. President Donald Trump said he cannot accept Iran's peace offer, which raised concerns over a potentially botched peace deal between the United States and Iran.

Major chipmakers here kicked off bullish, tracking recent gains on Wall Street.

On Friday (local time), major U.S. stock indexes closed higher, driven by a surge in chip and artificial intelligence (AI) shares.

Micron soared 15.49 percent, AMD jumped 11.44 percent, and Nvidia rose 1.75 percent.

In Seoul, market top-cap Samsung Electronics surged 5.21 percent, and its chipmaking rival SK hynix skyrocketed 8.54 percent.

AI investment firm SK Square jumped 5.37 percent, and trading firm Samsung C&T advanced 7.93 percent.

On the other hand, leading battery maker LG Energy Solution dipped 2.1 percent, while its smaller rival Samsung SDI lost 2.73 percent.

Electrical shares also lost ground, with HD Hyundai Electric down 2.28 percent and LS Electric dropping 2.08 percent.

Auto giant Hyundai Motor was flat, but its sister Kia climbed 2.67 percent and its auto-parts affiliate Hyundai Mobis escalated 4.52 percent.

Defense giant Hanwha Aerospace rose 2.91 percent, and major shipbuilder HD Hyundai Heavy gained 3.34 percent.

The Korean won was trading at 1,467.9 won against the U.S. dollar at 9:15 a.m., up 3.8 won from the previous session.

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