Only 160 Points Away From the ‘Dream’ 5,000 Mark... KOSPI Closes at 4,840 [fn Closing Market]

[Financial News] The Korea Composite Stock Price Index (KOSPI) once again hit a fresh record high. As foreign investors turned to net buyers in the afternoon, the index was pushed up by nearly 1%.
According to the Korea Exchange (KRX) on the 16th, the KOSPI closed at 4,840.74, up 43.19 points (0.90%) from the previous trading day.
The index broke above the 4,800 level right at the opening. During intraday trading, it climbed as high as 4,855.61. With this, the KOSPI surpassed the 4,800 mark just two trading days after breaking through 4,700 on the 14th.
In the KOSPI Market, retail investors locked in profits by dumping 938.1 billion won worth of shares. Foreign investors, who had been net sellers until the afternoon, switched to net buying and purchased 404.5 billion won. Institutions also posted a net purchase of 338.8 billion won.
By sector, construction (3.36%), insurance (3.30%), and machinery and equipment (2.79%) advanced, while transportation equipment and parts (-1.57%), chemicals (-1.15%), and IT services (-0.92%) declined.
Among large-cap stocks by market capitalization, Samsung Electronics (3.47%), SK hynix (0.93%), Hanwha Aerospace (0.93%), and Doosan Enerbility (6.48%) finished higher. In contrast, LG Energy Solution (-0.26%), Samsung Biologics (-0.92%), and Hyundai Motor Company (-2.13%) ended lower.
Overnight, the U.S. stock market saw a key source of volatility ease as geopolitical risks stemming from the Islamic Republic of Iran entered a calming phase. Against this backdrop, strong earnings from Taiwan Semiconductor Manufacturing Company (TSMC) and others drove semiconductor stocks sharply higher across the board.
Lee Jaewon, securities analyst at Shinhan Securities, said, “Samsung Electronics renewed its record high on the back of Samsung Electronics and TSMC’s strong earnings and U.S.-Taiwan trade negotiations, helping the index break through the 4,800 level,” adding, “The KOSPI has been on an all-time-high rally, extending its winning streak to 11 consecutive trading days this year. Earnings estimates for the reporting season are also continuing to be revised upward.”
On the same day, the KOSDAQ Index closed at 954.59, up 3.43 points (0.36%) from the previous session.
In the KOSDAQ market, retail investors and institutions were net buyers of 56.9 billion won and 37.9 billion won, respectively, while foreign investors showed a net selling advantage of 83.1 billion won.
nodelay@fnnews.com Park Ji-yeon Reporter