KOSPI Surges Past 8,700 on Nvidia CEO Visit Hopes; Samsung Market Cap Tops 2,000 Trillion Won

South Korea's KOSPI index soared past 8,700 points for the first time on Monday, fueled by excitement surrounding Nvidia CEO Jensen Huang's upcoming meetings with top South Korean tech executives. The benchmark index closed at 8,788.38, a 3.68% jump from the previous trading day, and briefly touched 8,874.16. This milestone follows the KOSPI's breach of the 8,000-point mark just four trading days prior. The surge saw a "sidecar" – a mechanism to curb rapid stock price increases – activated for the 11th time this year. Among the market's heavyweights, Samsung Electronics saw its stock price climb 10.09%, pushing its market capitalization beyond 2,000 trillion won for the first time, excluding preferred shares. SK Hynix also rose 1.29%, while Hyundai Motor gained 3.73%. The news of Huang's visit, including a planned meeting with LG Group Chairman Koo Kwang-mo, sent LG Electronics shares skyrocketing by 29.86%. Naver and Doosan also experienced significant gains, rising 16.03% and 11.71%, respectively. Despite the bullish momentum, concerns are mounting over potential overheating in the market, particularly regarding short-term trading strategies. Leveraged exchange-traded funds (ETFs) focused on single stocks like Samsung Electronics and SK Hynix are showing extremely high daily turnover rates, some reaching up to 2,000%. This indicates a surge in speculative, short-term trading activity, raising worries about market stability.