KOSPI Breaks Another Annual High... Surpasses 3230 for the First Time in 4 Years [fn Closing Market]

[Financial News] KOSPI rose for five consecutive days, settling at 3230 and recording the highest level in four years.
On the 29th, according to the Korea Exchange, the KOSPI index closed at 3230.57, up 21.05p (0.66%) from the previous trading day. The index started at 3192.17, down 0.54% from the previous session, but turned upward during the day and expanded its gains.
The closing price on this day is the highest since August 10, 2021 (3243.19), about four years ago.
Strong net buying by foreigners led the index's rise. In the KOSPI market, foreigners and institutions net bought 604.7 billion won and 116.6 billion won, respectively, while individuals showed a selling advantage of 825.6 billion won, realizing profits. 
In the early session, the domestic stock market showed a downward trend as concerns grew ahead of the Korea-US tariff negotiations. However, during the day, as foreigners and institutions turned to 'buying', semiconductor stocks reduced their losses, and the index began to turn upward. 
It seems that the expectation of significant performance improvement following Samsung Electronics' large-scale supply contract with Tesla the previous day stimulated foreign buying.
Lee Kyung-min, a researcher at Daishin Securities, said, "The improvement in foreign investor sentiment seems to have been partly due to expectations of a turnaround for Samsung Electronics," adding, "The survival expectations of a company representing Korea inevitably affect the perspective on the Korean stock market."
Previously, the KOSPI index renewed its annual high by rising to 3215.28 based on the closing price on the 15th, but continued to pause at the 3210 level due to the impact of tariff risk concerns. On the 24th, it rose to 3237.97 during the day, but the pressure to realize profits also increased.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., said, "Despite major events such as the US-China trade negotiations, the Federal Open Market Committee (FOMC), and the earnings announcements of major US big tech companies, expectations are gathering in the domestic stock market, and foreigners and institutions have jointly net bought KOSPI for five consecutive trading days."
nodelay@fnnews.com Park Ji-yeon Reporter