KOSPI extends gains to the 5,370 level, nears record high [Financial News afternoon market update]

[Financial News] The Korea Composite Stock Price Index (KOSPI) extended its gains and reclaimed the 5,370 level during intraday trading.
As of 2:17 p.m. on the 11th, the KOSPI was trading at 5,370.17, up 68.48 points (1.29%) from the previous session. At one point during the session, it climbed to 5,374.23, coming close to the intraday record high of 5,376.92 set on the 4th.
The index opened at 5,293.75, down 7.94 points (0.15%) from the previous close, but soon turned higher.
Net buying by both foreign and institutional investors pushed the index higher. Individual investors were net sellers of 1.4888 trillion won, while foreigners recorded net purchases of 336.8 billion won and institutions showed a net buying position of 1.0011 trillion won.
Among large-cap stocks by market capitalization, Samsung Electronics (up 1.57%), Hyundai Motor (up 5.10%), LG Energy Solution (up 0.38%), Samsung Biologics (up 0.41%) and Kia (up 3.81%) were advancing, while SK hynix (down 0.68%), SK Square (down 0.92%) and Hanwha Aerospace (down 1.48%) were weaker.
By sector, telecoms, construction, financials and insurers, IT services, pharmaceuticals, and transportation equipment and parts were strong, while paper and wood, textiles and apparel, and medical and precision instruments were declining.
Lee Jae-won, an analyst at Shinhan Investment & Securities, said, "With semiconductor stocks taking a breather and no clear catalyst for sharp moves, the robotics theme is coming back into focus," adding, "Expectations for dividends are underpinning strength in the financial sector."
At the same time, the KOSDAQ index was trading at 1,116.12, up 0.92 points (0.08%) from the previous session. Earlier in the day, the KOSDAQ had opened at 1,120.62, up 5.42 points (0.49%) from the previous close.

jisseo@fnnews.com Seo Min-ji Reporter