KOSPI Sets Another Record High... Aiming Precisely at 2800

Surpassing 2780 During Trading... KOSDAQ Also Records Historic Closing Price

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[Asia Economy Reporter Minwoo Lee] The KOSPI edged closer to the 2800 mark as it recorded an intraday all-time high.

On the 11th, the KOSPI closed at 2770.06, up 0.86% (23.60 points) from the previous day. This is the highest closing price ever. After safely passing the previous day, which was the expiration day for four derivatives?the futures and options of the stock index and individual stocks, known as the ‘Four Witching Day’?the index appears to have gained renewed upward momentum. At 9:46 a.m. that day, it even rose to 2781.04.

Despite selling pressure from foreigners and individuals, institutional buying prevented the index from falling. Foreigners and individuals sold a net 179.2 billion KRW and 48.7 billion KRW respectively, but institutions bought a net 221.1 billion KRW.

Almost all sectors rose. Distribution (3.27%) and telecommunications (3.16%) closed up more than 3%. They were followed by textiles and apparel (2.63%), finance (2.37%), and food and beverages (2.03%). Only pharmaceuticals (-0.71%) and medical precision (-0.59%) sectors declined.

Among the top 10 companies by market capitalization, NAVER posted the largest gain at 1.4%. It was followed by Kakao (1.0%), Samsung Electronics (0.6%), Celltrion (0.2%), and Samsung Biologics (0.1%). LG Chem (-1.1%), SK Hynix (-0.8%), Hyundai Motor (-0.7%), Samsung SDI (-0.7%), and Kia (-0.1%) declined.

The KOSDAQ also performed well. It closed at 928.44, up 0.73% (6.74 points) from the previous day. This is the highest closing price since the dot-com bubble burst in February 2002.

Individual investors showed strong buying. They bought a net 90.4 billion KRW. Foreigners and institutions sold a net 13.3 billion KRW and 66.2 billion KRW respectively.

Most sectors rose. Broadcasting services led with a 3.57% increase. They were followed by telecommunications and broadcasting services (2.58%), transportation (2.36%), general electric and electronics (1.69%), and distribution (1.31%). Publishing and media reproduction (-2.76%), telecommunications services (-1.01%), and other manufacturing (-0.74%) declined.

Most of the top 10 companies by market capitalization rose. Seegene led with a 2.9% gain. It was followed by EcoPro BM (2.7%), Celltrion Healthcare (1.4%), Alteogen (1.2%), and Pearl Abyss (0.9%). Genexine (-5.0%), Celltrion Pharm (-1.3%), and HLB (-0.1%) declined.

This content was produced with the assistance of AI translation services.