“When I see news about ‘7,000-pi (KOSPI at 7,000)’, I get so worked up that I try not to watch. It feels like I am the only one left out of a nationwide celebration. I consider jumping in even now, but I worry first that it may have risen too much.” (Office worker A, 38)

As the KOSPI index broke above 7,000 and the size of the domestic stock market climbed to seventh in the world, individual investors’ FOMO (fear of missing out) has deepened. In particular, anxiety is growing among retail investors who failed to catch the surges in semiconductor heavyweights SK hynix and Samsung Electronics that are leading the KOSPI’s rise.

After surpassing 7,000 for the first time ever the previous day, the KOSPI extended its gains on the 7th. It briefly topped 7,500 intraday, then closed at 7,490.05, up 105.49 points (1.43 percent) from the previous session, renewing its all-time high. Retail investors net bought 5.99 trillion won and institutions 1.095 trillion won, lifting the index. Foreign investors net sold 7.149 trillion won to take profits.

Samsung Electronics closed at 271,500 won (2.07 percent), and SK hynix at 1,654,000 won (3.31 percent), setting fresh record highs for a second straight day. Since the start of the year, Samsung Electronics has jumped 111 percent and SK hynix 144 percent.

NH Investment & Securities raised the KOSPI’s one-year achievable target to 9,000 points. Kim Byung-yeon, head of investment strategy at NH Investment & Securities, said, “There are aftereffects from the war, but the speed of increases in earnings estimates is even faster.”

Target prices for SK hynix and Samsung Electronics are also trending higher. SK Securities raised its targets for Samsung Electronics and SK hynix to 500,000 won and 3,000,000 won, respectively. Mirae Asset Securities also lifted its target for SK hynix by 35 percent, to 2,700,000 won from 2,000,000 won.

In particular, once exchange-traded funds (ETFs) that track double the returns of Samsung Electronics and SK hynix are listed on the domestic market later this month, attention is expected to concentrate even more. In a report released that day, Mirae Asset Securities researcher Yoon Jae-hong projected that up to 5.3 trillion won could flow into the ETFs.

Anxiety is mounting among retail investors who have not been able to join the relentless ‘Samjeonnix (Samsung Electronics·Hynix)’ uptrend.

Office worker Mr. Kwon (35) said, “When people are asking each other, ‘How much did you make? At what price did you get in?’, I get a reality check about whether it makes sense to be scraping by at work just to collect a paycheck.” He added, “I am doing a ‘no-spending challenge’ and eating home-cooked meals to buy a house, but seeing people make money in one shot makes me feel like a fool. I feel like everyone who makes money like this will just go buy real estate, and that is what scares me most.”

Mr. Lee (38) said, “It feels similar to when home prices surged before,” adding, “The costs I must repay for a real estate loan are heavy, so I am afraid to go as far as borrowing to invest, yet the sense of relative deprivation is great.”

The fact that the returns of most stocks, aside from semiconductor blue chips such as SK hynix and Samsung Electronics, are negative is also amplifying retail investors’ sense of deprivation.

Office worker Mr. Gu (35) said, “The returns on the stocks I bought before are down 70 to 80 percent, so I cannot even sell them,” adding, “Now, when I try to buy semiconductor stocks, I worry I will get stuck after buying at the top.”

On the previous day when the KOSPI surpassed 7,000 for the first time ever, there were 200 advancing stocks but 679 declining ones.