"Another All-Time High"...KOSPI Nears 3400 Mark [fn Closing Market]

[Financial News] KOSPI continued its all-time high streak due to consecutive net purchases by foreigners and institutions.
On the 12th, KOSPI closed at 3395.54, up 51.34p (1.54%) from the previous trading day.
On this day, KOSPI started trading at 3374.65, up 30.45p (0.91%) from the previous day. It is the third consecutive trading day of record highs since breaking the all-time high on the 10th, and the ninth consecutive trading day of gains.
In the securities market, foreigners maintained a buying trend for five consecutive trading days, purchasing 1.5736 trillion won worth. Institutions also showed a buying advantage for six consecutive trading days, purchasing 724.7 billion won worth. On the other hand, individuals sold 2.2688 trillion won worth.
Major companies by market capitalization generally showed strength. Leading the index rise were large semiconductor stocks Samsung Electronics and SK Hynix, which traded at 754,000 won and 3,285,000 won, up 2.72% and 7.00% from the previous trading day, respectively. Naver (1.29%) and Kakao (9.35%) also showed a sharp rise.
By industry, metals (3.97%), electrical/electronics (3.47%), and IT services (3.10%) rose in order. Electrical/gas (-1.38%) and construction (-0.83%) showed a downward trend.
Yeom Dong-chan, a researcher at Korea Investment & Securities, said, "Looking at past experiences, the leading stocks that drove the market rise after KOSPI hit an all-time high did not easily falter," adding, "This can be interpreted as the momentum of strong companies continuing their upward trend."
Meanwhile, the KOSDAQ index traded at 847.08, up 12.32p (1.48%) from the previous day.

dschoi@fnnews.com Choi Doo-sun Reporter