Daily Economic and Entertainment Briefing — 2026-05-29
The KOSPI hit a record high of 8476.15, driven by anticipation over Nvidia CEO Jensen Huang's visit and AI partnerships, with heavyweights Samsung Electronics and SK Hynix leading the way. Meanwhile, a blackout period on election polls has begun ahead of the June 3 local elections, with 7 to 8 battleground regions emerging. There is no significant entertainment news today.
Daily Economic and Entertainment Briefing — 2026-05-29
Economic and Stock Market News
KOSPI hits record high led by semiconductor stocks
The KOSPI reached an all-time high of 8476.15 on the 29th. The rally was fueled by hopes for a peace treaty between the U.S. and Iran, a strong performance on Wall Street, and anticipation surrounding Nvidia CEO Jensen Huang's upcoming visit to Korea for AI collaboration. Large-cap semiconductor stocks, including Samsung Electronics and SK Hynix, led the index upward.
May rally breaks the "Sell in May" tradition
The KOSPI has surged 24% so far in May, marking an historic monthly rally. This year, the Wall Street adage "Sell in May and go away" has been completely debunked in the domestic market, driven by the strength of semiconductor firms like Samsung Electronics and SK Hynix.
New York markets close with modest gains for Dow and S&P 500
On the 27th, the Dow Jones and S&P 500 managed to close with modest gains. While transportation indices and defensive stocks provided support, a decline in the Philadelphia Semiconductor Index and a sharp drop in ARM shares limited gains for the tech sector. The VIX index fell, suggesting that market anxiety has eased somewhat.
Brokerages raise KOSPI target to 11,000
Domestic and international brokerage firms have successively raised their target figures for the KOSPI. As the index chases the 9,000-point mark, some analysts have even projected that the KOSPI could climb as high as 11,000 points.
Political and Policy Trends
Election poll blackout begins, 7–8 battleground regions identified
With the local and by-elections approaching on June 3, a ban on the publication of public opinion polls (blackout period) began on the 28th. Polls conducted just before the blackout showed an intensifying race between the Democratic Party of Korea and the People Power Party, with the number of battleground regions—including Seoul, Busan, and Daegu—increasing to 7 or 8.
Ministry of Patriots and Veterans Affairs announces results of Lee Jae-myung administration's first year
On the first anniversary of the Lee Jae-myung administration, the Ministry of Patriots and Veterans Affairs announced the achievements of its veterans policy. 20,000 additional independence fighters, war veterans, and pro-democracy merit holders will receive benefits, and eight related laws have been amended.
Entertainment News
There is no significant entertainment news today.
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