‘Roller-Coaster’ KOSPI... Touches 4,620 Intraday, Closes Slightly Higher [fn Closing Market Report]

[Financial News] Buoyed by strong semiconductor stocks, the Korea Composite Stock Price Index (KOSPI) climbed to the 4,620 level during intraday trading but ended the session slightly higher as profit-taking intensified in the afternoon. Individual investors alone bought more than 1 trillion won worth of shares over the course of the day.
On the 8th, according to the Korea Exchange (KRX), the KOSPI closed at 4,552.37, up 1.31 points (0.03%) from the previous session.
The KOSPI opened at 4,531.46, down 0.43% from the previous day, but quickly reversed course and moved into positive territory. In the morning, it rose to the 4,620 level for the first time ever on an intraday basis, setting a new all-time high. However, as profit-taking orders emerged in the afternoon, the index finished with only modest gains. A day earlier, on the 7th, it had already broken above the 4,600 mark for the first time, hitting an intraday high of 4,611.72.
Robust buying by individual investors was the main driver behind the index’s rise. Over the day, retail investors purchased 1.2566 trillion won worth of shares on the KOSPI Market. Foreign investors and institutions, by contrast, sold 103.3 billion won and 1.3998 trillion won, respectively, locking in profits.
Among large-cap stocks by market capitalization, SK Hynix (up 1.89%), Samsung Biologics (up 6.68%), HD Hyundai Heavy Industries (up 4.49%), and Hanwha Aerospace (up 7.92%) advanced. In contrast, Samsung Electronics (down 1.56%), LG Energy Solution (down 1.21%), and Hyundai Motor Company (down 2.85%) ended lower.
Jaewon Lee, a researcher at Shinhan Securities, noted, “Samsung Electronics posted record quarterly results, with sales of 93 trillion won and operating profit of 20 trillion won, beating market expectations,” adding, “With no particular concerns over its earnings outlook and bargain hunting coming in, Samsung Electronics and SK Hynix both hit fresh intraday record highs.”
He went on to say, “Large export names in semiconductors, automobiles, and shipbuilding are leading the market, and this concentration in blue chips is driving the continued renewal of record highs in the index,” and added, “Tomorrow’s jobs report will likely serve as a short-term inflection point, after which attention is expected to shift back to corporate earnings.”
On the same day, the Korea Securities Dealers Automated Quotations (KOSDAQ) index closed at 944.06, down 3.33 points (0.35%) from the previous session. The index had opened at 950.71, down 0.35% from the previous day, and finished slightly lower.
On the KOSDAQ market, individual investors bought 68.5 billion won and institutions purchased 33 billion won worth of shares, while foreign investors were net sellers of 97.4 billion won.
nodelay@fnnews.com Park Ji-yeon Reporter