Japan and South Korea Stocks Open Higher; Nikkei 225 Hits 62,000 for First Time

TradingKey - On May 7, both the Japanese and South Korean markets achieved significant breakthroughs.

The Nikkei 225 Index surged after the opening bell, crossing the 62,000-point psychological threshold for the first time during the session, with intraday gains reaching 4.2% as of press time.

The Korea Composite Stock Price Index (KOSPI) continued to climb from its record highs, rising nearly 2% in early trading to break 7,500 points; although gains subsequently narrowed to 0.2%, it extended the strong momentum from the previous day's breach of the 7,000-point mark.

Regarding individual stocks, Samsung Electronics and SK Hynix rose by more than 3% and 2%, respectively, on the 7th.

On May 6 local time, U.S. President Trump stated that the U.S. and Iran had held "very productive" talks over the past 24 hours and that a deal was "very likely." Trump revealed that Iran had agreed not to possess nuclear weapons, a disclosure that significantly eased market concerns over geopolitical conflicts in the Middle East. Following this news, major New York stock indices all strengthened in the previous session, led by the technology sector, setting a positive tone for Asia-Pacific markets.

Furthermore, the sustained strength of the South Korean market is particularly notable, driven by a comprehensive recovery in the global memory chip industry. As the world's largest exporter of memory chips, South Korea occupies a central position in the current AI-driven tech wave.

Latest data from the South Korean Ministry of Trade, Industry and Energy shows that South Korea's total exports reached $219.9 billion in the first quarter, up 37.8% year-on-year, hitting a record high. Semiconductor exports were a highlight, surging 139% year-on-year to $78.5 billion; specifically, DRAM exports jumped 249.1%, while NAND flash exports soared 377.5%, directly reflecting robust demand for computing resources for global AI data center construction.