Seoul: Average daily transactions in South Korea's benchmark index have exceeded 40 trillion won (US$26.4 billion) for the first time this month, as part of a record-breaking market rally, bourse data revealed on Monday. The daily turnover of the Korea Composite Stock Price Index (KOSPI) averaged 48.05 trillion won during the first 22 days of May, according to data from the Korea Exchange (KRX).

According to Yonhap News Agency, this figure represents the highest monthly average on record, surpassing the previous high of 32.23 trillion won set in February. The increase coincides with the KOSPI's climb to record highs this month. The index surpassed the 7,000-point threshold for the first time on May 6 and briefly went over 8,000 during intraday trading on May 15. After experiencing volatile trading, the KOSPI closed at 7,847.71 on Friday, marking a 19 percent rise from the end of April.

The surge in turnover was largely fueled by significant purchases of market bellwethers such as Samsung Electronics Co. and SK hynix Inc. The combined daily trading value for these two companies averaged 20.57 trillion won over the noted period, accounting for 43 percent of the KOSPI's total daily turnover.

"Despite concerns over an economic slowdown, investors are concentrating capital on artificial intelligence (AI)-related industries where growth prospects remain strong," stated Kang Dae-seung, an analyst at SK Securities. "This concentration has intensified since 2023, when the AI investment rally began."