South Korea's KOSPI stock benchmark tops 5,000 on AI boom, market reforms

Currency dealers walk past an electronic board showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of a bank in Seoul. March 13, 2020. REUTERS/Kim Hong-Ji/File photo

SEOUL: South Korea's stock benchmark topped 5,000 points for the first time on Thursday, powered by gains in chip firms and automakers on artificial intelligence optimism, reaching a level promised by President Lee Jae Myung in just over six months since he took office.

The benchmark KOSPI rose as much as 2.2% to 5,019.54 in morning trade, marking its highest level on record.