South Korea’s KOSPI opened up 3.67%, hitting a new high, with SK hynix surging 9.61% to lead the gains as Asian stocks diverged

South Korea’s KOSPI opened on Monday, May 11, up 3.67%, hitting a record high and leading gains across Asia-Pacific stocks; meanwhile, oil prices bounced after Trump rejected Iran’s latest proposal, and Asian markets overall showed divergence in performance. CNBC report roundup: KOSPI’s largest-cap bellwether SK hynix rose 9.61%, tracking last Friday’s strong move in US chip stocks; other Asian markets: Nikkei 225 +0.81%, TSE TOPIX +0.32%, Australia’s S&P/ASX 200 -0.71%, and KOSDAQ edged higher.

KOSPI opens up 3.67%, SK hynix +9.61% leads

Details of the Korean stock market’s moves:

KOSPI opens up 3.67%, reaching a record high

SK hynix up 9.61%, the main driver lifting KOSPI

KOSDAQ (small-cap index) edges higher

South Korea’s semiconductor sector continues last Friday’s strong performance in US chip stocks

SK hynix is a KOSPI large-cap stock, and its rise directly affects the broader index. This rally aligns with the “AI chip generation transition” theme covered by abmedia on 5/8—memory and CPU makers (including SK hynix and Micron) are playing an increasingly important role in AI inference workloads.

Asian markets diverged: Japan stocks rose slightly, Australia fell, and Iran risk didn’t crush the uptrend

Asian market performance at the same time:

Nikkei 225: +0.81%

TSE TOPIX: +0.32%

Australia S&P/ASX 200: -0.71%

Overall Asia-Pacific: mixed performance, with clear differences between strong semiconductor segments and resource/energy sectors

Even though Trump rejected the Iran peace proposal on 5/10, oil prices rebounded at the start of the week, geopolitical risk heated up, and Asian stocks didn’t drop across the board. Strong demand for semiconductors outweighed negative sentiment about an Iran war.

What’s behind the market split: AI momentum vs geopolitical factors

Today’s Asian stock performance reflects a tug-of-war between two directions:

Positive: US semiconductor stocks surged last Friday, AI compute demand remains structurally strong, and Asian chip suppliers benefit first

Negative: Trump rejects Iran’s proposal, war risk resurfaces, and oil prices rebound

Result: markets with high semiconductor weight (KOSPI, Nikkei) can absorb negative news; markets with higher resource weight (ASX) face more pressure

Specific events to watch next: the likelihood that US stocks continue the semiconductor sector trend this week, the progress of SK hynix and Micron’s HBM shipments, and whether continued oil price rebounds will suppress Asia-Pacific tech-sector gains in the mid-to-late period.

This article—South Korea’s KOSPI opens up 3.67% to a record high, SK hynix +9.61% leads the rally, and Asia-Pacific markets diverge—first appeared on the Chain News ABMedia.