The KOSPI's total market capitalisation surpassed 7 quadrillion won for the first time. Samsung Electronics, lifted by a sharp rise in its share price, topped 2 quadrillion won in market value for a single stock and overtook bitcoin in a global ranking of asset market capitalisation.

The KOSPI ended up 312.23 points, or 3.68 percent, at 8,788.38 from the previous session. It opened at 8,485.67 and rose as high as 8,874.16 during the session to set a fresh record.

By investor type, retail investors and institutions posted net buying of 381.2 billion won and 2.53 trillion won, respectively. Foreign investors recorded net selling of 2.91 trillion won. Institutional buying led the index higher, while retail investors also bought, widening the KOSPI's gains.

The KOSPI's market capitalisation was tallied at 7.20 quadrillion won. This was the first time it exceeded 7 quadrillion won. Buying was concentrated in top market-cap names, led by large semiconductor shares, pushing both the index and the market's overall value to record levels.

Samsung Electronics was at the centre of the rally. It ended up 32,000 won, or 10.09 percent, at 349,000 won from the previous session. It rose as high as 354,500 won during the session. By closing price, its market capitalisation was tallied at 2.04 quadrillion won.

Samsung Electronics topping 2 quadrillion won in market value is a symbolic milestone in South Korea's stock market. It implies its value roughly doubled in about 5 months after it reached 1 quadrillion won in January. Expanded demand for artificial intelligence (AI) semiconductors and expectations for high-bandwidth memory (HBM) drove the stock's re-rating.

Samsung Electronics also surpassed bitcoin in a global ranking of asset market capitalisation. According to CompaniesMarketCap, Samsung Electronics posted a market value of $1.515 trillion, overtaking bitcoin's $1.47 trillion. Samsung Electronics rose to 13th in the global asset market-cap ranking, while bitcoin slipped to 14th.

Bitcoin was once called "digital gold" and ranked among the top global assets by market value, but its ranking has fallen recently as its price stayed in a range. Samsung Electronics, by contrast, has drawn AI semiconductor investment sentiment and is being viewed as a key global technology asset beyond traditional manufacturing-based companies.

SK hynix is also closing in. SK hynix ended up 44,000 won, or 1.92 percent, at 2,333,000 won. Its market capitalisation was tallied at 1.66 quadrillion won.

SK hynix, which is seen along with Samsung Electronics as one of South Korea's top two semiconductor stocks, is also rapidly increasing its market capitalisation on expectations of expanding AI memory demand.

The market-cap gap between Samsung Electronics and SK hynix remains large, but as both firms rise into the upper ranks of global assets, an assessment is emerging that the standing of South Korean semiconductor shares has changed.

With Samsung Electronics overtaking bitcoin and SK hynix closely chasing bitcoin and Samsung Electronics, a semiconductor-led market has become more pronounced.

The market sees the KOSPI surpassing 7 quadrillion won in capitalisation and Samsung Electronics topping 2 quadrillion won as more than just numbers. Expectations of a recovery in AI semiconductors and the memory cycle are leading to a broader re-rating of the overall domestic stock market.

Still, concerns about the burden from the sharp rise over a short period have increased. Funds were concentrated in large semiconductor shares such as Samsung Electronics and SK hynix, supporting a strong index rise, but caution remains about crowding in some stocks.

Brokerages see whether the KOSPI enters the 9,000 level and whether Samsung Electronics can maintain a market cap above 2 quadrillion won as key points to watch for South Korea's stock market going forward.