How High Can the KOSPI Go? Index Tops 4,700 Intraday for First Time Ever [fn Morning Market Report]

[Financial News] The Korea Composite Stock Price Index (KOSPI) briefly touched the 4,700 level intraday for the first time ever, supported by net buying from retail and institutional investors.
As of 10:30 a.m. on the 14th, the Korea Composite Stock Price Index (KOSPI) was trading at 4,709.00, up 16.36 points (0.35%) from the previous session. The index opened at 4,685.11, down 0.16% from the previous close, but quickly reversed into positive territory after the opening and succeeded in breaking above the 4,700 mark for the first time in history. Strong intraday buying even pushed the index up to 4,715.75 at one point.
In the KOSPI Market, retail investors and institutions are net buyers of 194.0 billion won and 419.3 billion won, respectively. Foreign investors are net sellers of 676.3 billion won.
By sector, machinery and equipment (2.44%), construction (2.39%), distribution (1.59%), and medical and precision instruments (1.37%) are showing strength. Metals (-2.24%), electric and gas utilities (-1.80%), and IT services (-1.51%) are weak.
Among large-cap stocks by market capitalization, Samsung Electronics (1.6%), SK Hynix (0.47%), and Samsung Biologics (1.15%) are all trading higher. In contrast, LG Energy Solution (-1.14%), Hyundai Motor Company (-0.55%), and HD Hyundai Heavy Industries (-1.4%) are weaker.
Overnight, the U.S. stock market ended lower despite December Consumer Price Index (CPI) data coming in below consensus. Sentiment was weighed down by geopolitical tensions stemming from Iran, weakness in financials such as JPMorgan Chase amid concerns over President Donald Trump’s proposed 10% cap on credit card rates, and a decline in Microsoft (MS) after it decided to absorb higher electricity costs itself.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, "The KOSPI has been on an upward trend for eight consecutive trading days since the beginning of the year, which marks the longest winning streak since the 11-session rally from September 2 to 16 last year," adding, "During today’s session, we expect profit-taking to emerge, particularly in recently surging export and robotics stocks, leading to rotational buying into previously neglected sectors."
At the same time, the KOSDAQ Index was trading at 948.88, down 0.10 points (0.01%) from the previous session. The index opened at 951.03, up 0.22% from the previous close.
In the KOSDAQ market, retail investors alone are net buyers of 299.5 billion won. Foreign investors and institutions are showing net buying of 236.6 billion won and 60.1 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter