Samsung and SK Hynix Hit All-Time Highs as South Korea's Kospi Jumps 2.8%

South Korea's Kospi surged 2.8% on Friday, extending its record-setting run a day after crossing the 9,000 mark for the first time, with shares of Samsung Electronics and SK Hynix each climbing to all-time highs — underscoring the broad momentum sweeping through Asia's semiconductor sector.

The rally came as Asia-Pacific markets opened to a mixed session. Japan's Nikkei 225 advanced 0.6% after notching a record high on Thursday, while the broader Topix opened flat. Australia's S&P/ASX 200 slid 0.74%, and South Korea's small-cap Kosdaq fell 0.39%. Markets in China, Hong Kong, and Taiwan were closed for a holiday.

The gains in South Korean chip stocks echoed a powerful move in U.S. semiconductor names the previous session. Intel led the sector, rising 10.6% after President Donald Trump announced the company would partner with Apple on designing chips domestically. Nvidia and Micron Technology also advanced, gaining roughly 3% and nearly 9%, respectively. The iShares Semiconductor ETF climbed more than 6% on the day.

Robert Conzo, chief executive officer at The Wealth Alliance, attributed part of the enthusiasm to a broader shift in investor sentiment. "I think Apple-Intel was a little proxy for what you could see happening in the future," Conzo said, adding that he sees "more bullishness around companies working together because of [artificial intelligence] infrastructure and the effects of AI within many, many different competing industries."

U.S. equities closed out the holiday-shortened week in positive territory despite a volatile stretch triggered by the Federal Reserve's latest policy meeting. The S&P 500 added 1.08% on Thursday, closing at 7,500.58. The Nasdaq Composite climbed 1.91% to 26,517.93, while the Dow Jones Industrial Average rose 72.15 points, or 0.14%, to 51,564.70.

For the week, the S&P 500 gained 0.9% — its 11th winning week in 12. The Nasdaq jumped 2.4% over the period, while the Dow advanced 0.7%.

The Fed's first meeting under new Chairman Kevin Warsh had rattled markets earlier in the week. Policymakers' "dot plot" showed that nine of 18 Fed officials now anticipate interest rates rising in 2026. Warsh notably abstained from submitting a rate forecast himself, while repeatedly emphasizing "price stability" at his press conference in a tone analysts characterized as hawkish.

Investors also kept close watch on the durability of a newly brokered U.S.-Iran peace agreement. U.S. Vice President JD Vance said any economic relief for Tehran would hinge on Iran's compliance with the deal's terms. "The United States isn't giving up a cent of money to Iran," Vance said. "The only way the Iranians get any of these resources ... is if they comply fully" with the conditions of the agreement.

Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, described the pact as conditional as well, saying he approved the memorandum only after receiving guarantees that Iran's rights and the "resistance front" would be protected.

The geopolitical development weighed on energy markets. West Texas Intermediate futures for July delivery fell as low as $73.58 per barrel — the lowest level since early March — as traders assessed what a de-escalation in the Middle East could mean for global oil supply. ConocoPhillips and Occidental Petroleum each dropped about 3%, while Exxon and Chevron lost more than 2%.

With semiconductor stocks driving outsized gains on both sides of the Pacific, traders will be watching whether momentum in chip names can sustain the Kospi above the historic 9,000 threshold — and whether the Fed's hawkish posture or progress on the Iran deal introduces new headwinds in the sessions ahead.

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