Finance

KOSPI hits record high for second day as semiconductors rise on first day of single-stock leverage products

South Korea\'s KOSPI rose more than 2 percent on May 27 to post a record high for a second straight session, supported by strong sentiment on the first trading day of single-stock leveraged products linked to Samsung Electronics and SK Hynix. The index closed up 181.19 points, or 2.25 percent, at 8,228.70 after touching a 52-week high of 8,457.09. Retail and institutions were net buyers, while foreigners sold. The Kosdaq fell 3.36 percent, and the won strengthened against the dollar.

Crypto

Self-proclaimed world\'s highest IQ Kim Young-hoon says bitcoin, XRP to go wild in June; past forecast failures resurface

Entrepreneur Kim Young-hoon (김영훈), who claims to have an IQ of 276, said bitcoin and XRP would move sharply from June and that the crypto market would become “insane.” The comments revived scrutiny of his credibility, including past price forecasts that did not materialise and disputes over IQ verification. Markets are also not matching his bullish tone, with bitcoin and XRP trading weaker in the short term.