'Foreign and Institutional Investors Drive KOSPI to Surge Over 2%... Index Tops 3,730 [fn Afternoon Market Report]'

[Financial News] On the 16th, the KOSPI broke through the 3,700 mark for the first time ever, continuing its sharp rise of over 2% thanks to net buying by both foreign and institutional investors.
As of 1:40 p.m., the KOSPI was trading at 3,734.91, up 2.12% from the previous session. The index opened at 3,675.82, a 0.51% increase, and continued to climb, surpassing 3,735.90 (up 2.15%).
In the KOSPI Market, foreign investors and institutional investors recorded net purchases of 492.7 billion won and 419.9 billion won, respectively. Individual investors, on the other hand, showed a net selling of 895.7 billion won.
Samsung Electronics, the largest company by market capitalization, rose as high as 97,700 won (up 2.84%) in early trading, breaking its previous all-time high of 96,800 won set in January 2021. It was last trading at 97,550 won, up 2.68% from the previous session. SK hynix also hit an intraday high of 455,000 won (up 7.69%), surpassing its previous record of 439,250 won set on the 10th.
The KOSPI’s upward momentum reflects optimism that the United States–Korea Tariff Negotiations, which have faced difficulties, may soon be resolved. As a result, Hyundai Motor and Kia Corporation were trading at 240,500 won (up 7.61%) and 110,900 won (up 6.84%), respectively.

elikim@fnnews.com Kim Mi-hee Reporter