KOSPI Breaks 6,900 as SK Hynix Surges to 1.42 Million Won, US Money Flows In Directly

The KOSPI opened up around 4% and broke through the 6,900 level intraday, passing 6,899 before crossing 6,900 during the broadcast. The KOSDAQ also rose more than 1.8%, trading near 1,214 points. The won held steady around 1,472 per dollar after falling roughly 4 won at the open. Advancing stocks numbered only 419 against more than 400 decliners, essentially a split market, yet the index surged sharply — a sign that large-cap names such as SK Hynix and Samsung Electronics were driving the gains.

By index contribution, SK Hynix added about 122 points and Samsung Electronics about 62 points, with the so-called IT duo leading the market. Brokerage stocks, power equipment names, and MLCC/substrate-related shares — all recent strong performers — rose together again, suggesting a concentrated rather than rotational rally.

Foreign buying stood out. As of the broadcast, foreign investors had net bought about 2.3 trillion won on the KOSPI, 500 billion won on the KOSDAQ, and nearly 2 trillion won in KOSPI 200 futures, while also buying call options. With Japan and China markets closed for holidays, hosts speculated that foreign capital may have concentrated in Korea while those markets were shut.

The KOSPI rose more than 30% in April alone. Brokerages expect May to push above 7,000 but see monthly gains slowing to a high single-digit percentage due to fatigue after the rapid rise. Hosts pushed back, calling such forecasts mechanical, arguing that since the pre-war starting point in early March was around 6,300, the current rally could simply be viewed as a recovery of the earlier drop rather than an overextension.

SK Hynix surged 11-12% intraday, touching 1.429 million won, while SK Square rose more than 13% to hold onto fourth place by market cap. Some US financial media reported SK Hynix could pursue a US ADR listing as early as early July, a story not yet covered domestically but cited as a driver of SK Square's strength.

Views on Samsung Electronics diverged sharply among brokerages. Citi cut its target price from 320,000 to 300,000 won, maintaining a bullish view on worsening memory supply shortages but lowering 2026-2027 operating profit estimates by about 10% to reflect potential severance-related provisions tied to labor union strikes. Goldman Sachs, by contrast, raised its target from 300,000 to 320,000 won, citing an intensifying memory shortage into 2027 and raised 2028 operating profit estimates. Korea Investment & Securities lifted its target 12% to 370,000 won, keeping its top-pick rating on the sector, citing Samsung's dominant market share as giving it an edge over rivals in base-price negotiations. Hosts said they disagreed with framing the union strike issue as a broader stock-negative factor.

A new integrated overseas account service, launched through a partnership between a US brokerage and a Korean securities firm, allows US retail investors to buy Korean stocks directly. Samsung Securities surged roughly 28%, trading near 13,200 won, on the news. Other brokerages reportedly preparing similar services also rallied. Hosts noted this represents a new type of demand from US retail investors who previously had no exposure to Korean equities.

President Trump posted a lengthy message on his social media platform announcing 'Project Freedom,' an operation to help vessels stranded in the Strait of Hormuz get out, starting Monday morning Middle East time. He described talks with Iran as positive and the vessel movements as a humanitarian measure. However, the Wall Street Journal reported the US Navy would not directly escort ships, and Axios said the US would instead share safe-route information with other countries.

Hosts questioned the practical value of the announcement, noting that between several hundred and up to 2,000 vessels have already left the strait since the war began through negotiation or independent risk-taking, without military escort or insurance guarantees. They interpreted the announcement instead as a market-soothing gesture, coming after oil prices topped $122 a barrel late last week, a hawkish FOMC tone, and the US 10-year Treasury yield climbing to near 4.4%.

Trump's sensitivity to rising bond yields was attributed to US interest payments on national debt already exceeding defense spending at roughly 1,500 trillion won, his own substantial bond holdings, and the fact that the bond market dwarfs the stock market in size. Hosts noted a recurring pattern where dovish gestures follow whenever the 10-year yield approaches 4.5%.

Hosts maintained a negative view on US equities overall, citing concerns about the sustainability of the US economy. They noted Wall Street's year-end S&P 500 targets imply only about 10% further upside from current levels, and cited economist Robert Shiller's comment that the S&P 500 could plunge 30%.

When the world's first washing machine, 'Thor,' was invented in 1908, people expected household chore time to drop sharply. Yet from 1920 to 1960, as washing machine penetration in the US surpassed 55%, weekly time spent on housework actually increased. As washing clothes became easier, people simply washed more often, creating new demand rather than freeing up time.

This case illustrates how forecasts about new technology or industrial progress can go astray when they rely on a single big idea. Hosts noted that experts commonly err by over-relying on one core idea and building conviction around it rather than questioning it — a trap that current AI-chip narratives risk falling into as well.

Three mental habits from Charlie Munger, Warren Buffett's longtime partner, were offered as a remedy. First, keep asking 'and then what' after any conclusion. Second, always consider the opposite scenario as a counterweight. Third, examine the incentive structure of whoever is delivering the forecast. Washing machine makers advertised liberation from housework, but their real motive was to sell more units — just as recent market chatter about reduced memory demand misreads the intent behind technology designed to expand, not shrink, AI usage.

Using the real estate debate as an example, hosts noted that experts who profit when prices rise inevitably skew their commentary. The segment closed with advice to eliminate clearly wrong options rather than searching directly for the right answer, as a way to counter bias and reach more balanced decisions.