KOSPI Nears All-Time High... Foreigners Purchase 1 Trillion Won in a Buying Frenzy [fn Afternoon Market]

[Financial News] Boosted by tax expectations, KOSPI is on the verge of breaking its all-time high. Foreigners are continuing their buying spree, purchasing over 1 trillion won.
On the 10th at 2:05 PM, the KOSPI index is trading at 3311.65, up 51.60p (1.58%) from the previous trading day. The index opened at 3272.20, up 0.37% from the previous session, and is rising over 1%.
On this day, KOSPI broke through the 3300 mark during the session for the first time in 4 years and 2 months. If the closing price ends as it is, it will surpass the all-time high set on July 6, 2021 (3305.21). The highest intraday KOSPI was recorded on June 25 of the same year at 3316.08.
In the securities market, foreigners are net buying a large amount of 1.179 trillion won. Institutions also purchased 869.5 billion won. Individuals sold 2.0345 trillion won, realizing profits.
By industry, securities (3.20%), construction (2.93%), finance (2.83%), and electronics (2.26%) are rising sharply. On the other hand, chemicals (-0.28%), textiles and clothing (-0.16%), and pharmaceuticals (-0.07%) are declining.
Among the top market cap stocks, Samsung Electronics (1.4%), SK Hynix (5.12%), Hanwha Aerospace (2.33%), and KB Financial (6.73%) are soaring. Conversely, LG Energy Solution (-1.59%) and Samsung Biologics (-0.58%) are declining.
Today, the domestic stock market is poised to achieve an all-time high for KOSPI as favorable factors overlap. There is speculation that President Lee Jae-myung will directly announce at a press conference on the 11th, marking his 100th day in office, that the major shareholder requirement for imposing capital gains tax on stocks will remain at the current 50 billion won, leading to a surge in policy expectations.
Lee Jae-won, a researcher at Shinhan Investment Corp, said, "As the won-dollar exchange rate stabilizes, the report that the president will directly announce the maintenance of the major shareholder requirement at 50 billion won is sustaining the rebound in sectors such as securities and holding companies," adding, "Amidst solid performance and guidance from global AI companies like Broadcom, Oracle, and TSMC, the outlook for the semiconductor industry in the second half remains bright."
On the same day, the KOSDAQ index is trading at 830.91, up 6.09p (0.74%) from the previous session. The index started at 828.40, up 0.43% from the previous session.
In the KOSDAQ market, individuals are selling 46.7 billion won, while foreigners and institutions are showing a selling dominance of 13.9 billion won and 53.3 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter