KOSPI Soared... Closed at All-Time High of 3314.53 [fn Closing Market]

[Financial News] KOSPI broke all-time highs both during the day and at closing. With expectations for tax reform, foreigners and institutions made a 'storm' purchase of 2.5 trillion won in just one day.
On the 10th, according to Korea Exchange, the KOSPI index closed at 3314.53, up 54.48 points (1.67%) from the previous trading day. 
KOSPI achieved historical highs both during the day and at closing. The index opened at 3272.20 and surpassed the 3300 mark from the morning. After 3 PM, it recorded an all-time intraday high of 3317.77. The previous closing high was on July 6, 2021 (3305.21), and the intraday high was on June 25 of the same year (3316.08). 
Foreigners and institutions bought 1.5017 trillion won and 1.0585 trillion won respectively, boosting the index. Individuals sold 2.5342 trillion won in a day, realizing profits.
By sector, securities (3.59%), finance (2.83%), and construction (2.74%) rose significantly, while pharmaceuticals (-0.24%), textiles and apparel (-0.18%), and chemicals (-0.16%) closed weak.
Among the top market cap stocks, Samsung Electronics (1.54%), SK Hynix (5.38%), Hanwha Aerospace (2.22%), Hyundai Motor (0.68%), and KB Financial (6.82%) rose significantly, while LG Energy Solution (-1.87%) and Samsung Biologics (-0.58%) fell.
On this day, the domestic stock market saw multiple favorable factors, pushing KOSPI to new all-time highs. There was a surge in policy expectations as it was anticipated that President Lee Jae-myung would announce at the 100-day inauguration press conference on the 11th that the major shareholder requirement for imposing capital gains tax on stocks would remain at the current 50 billion won.
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 led to a continued rebound in sectors such as securities and holding companies," adding, "With global AI companies like Broadcom, Oracle, and TSMC delivering solid results and guidance, the outlook for the semiconductor industry in the second half also had an impact."
On the same day, the KOSDAQ index closed at 833.00, up 8.18 points (0.99%) from the previous session. The index started at 828.40, up 0.43% from the previous session.
In the KOSDAQ market, individuals sold 142.5 billion won, while foreigners and institutions showed a buying advantage with 103.8 billion won and 51.1 billion won respectively.

nodelay@fnnews.com Park Ji-yeon Reporter