KOSPI Closes Above 3000 for the First Time at Closing Price... Surpasses 3050 Intraday

[Asia Economy Reporter Ji-hwan Park] The KOSPI surpassed the 3000 mark for the first time ever based on the closing price. The index closed with a gain of over 2% as institutional buying surged.

On the 7th, the KOSPI closed at 3031.68, up 63.47 points (2.14%) from the previous trading day. Having crossed the 3000 mark intraday the day before, it surpassed 3000 based on the closing price as well. The index opened at 3003.77, up 35.56 points (1.20%), and maintained an upward trend until the close. During the afternoon session, it rose as high as 3055.28, sustaining a gain of more than 2%.

On this day, foreigners and institutions led the market in the KOSPI. Foreigners and institutions net bought 109.1 billion KRW and 1.0258 trillion KRW respectively, driving the index higher. Notably, institutions had net sold 1.3742 trillion KRW the previous day, pulling the index down in the final moments of trading, but reversed course with net buying exceeding 1 trillion KRW this day. Meanwhile, individual investors, who had been buying continuously since the new year, net sold 1.1737 trillion KRW to realize profits.

Among the top 10 market capitalization stocks, all rose except NAVER. LG Chem (8.09%), Hyundai Mobis (7.41%), SK Hynix (2.67%), and Samsung SDI (2.65%) showed strong gains in that order.

Achieving the 3000-point mark based on the closing price is a milestone 38 years after the launch of the KOSPI. The KOSPI's upward rally began in the mid-1980s. The KOSPI, which was only around 100 in the early 1980s, rose to 272 by the end of 1986. On August 19, 1987, it surpassed 500 for the first time. Two years later, on March 31, 1989, it broke through 1000 for the first time in history.

It took 18 years and 3 months to surpass the 2000 mark. The index entered the 1500 range on April 9, 2007, and on July 25 of the same year, the 'KOSPI 2000' era began. However, due to the global financial crisis triggered by the US in 2008, the market closed at 938.75 on October 24. It took six years until May 4, 2017, when the index recorded 2241.24, breaking the previous high, escaping the so-called 'Boxpi (Box range + KOSPI)' status.

On this day, the KOSDAQ index closed at 988.86, up 7.47 points (0.76%) from the previous day. By investor type, individuals and foreigners net bought 222.8 billion KRW and 1.7 billion KRW respectively, while institutions net sold 199.6 billion KRW.

Among the top 10 market capitalization stocks, all rose except for HL Biopharma (-0.10%). Notably, Celltrion Healthcare (2.93%), Seegene (2.37%), and EcoPro BM (1.48%) showed significant gains.

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