Seoul: Seoul stocks opened at a fresh record high Friday after surging past a new milestone of above 9,000, boosted by a continued chip rally amid a boom in artificial intelligence (AI). The benchmark Korea Composite Stock Price Index (KOSPI) opened up 225.05 points, or 2.48 percent, at 9,288.89.

According to Yonhap News Agency, the market got a boost from overnight gains on Wall Street, led by major chipmakers, such as Intel, Nvidia, and Micron Technology. U.S. President Donald Trump announced that Intel had agreed to a deal with Apple to design and build chips in the United States.

Analyst Han Ji-young from Kiwoom Securities expected the local market to continue on a chip rally but noted that the rise could be limited due to profit-taking. "There seems to be a consensus among investors that increasing dependence on major leading stocks is the winning strategy, in the face of external uncertainties," Han said.