KOSPI Breaks Through 6,300... Samsung Electronics and SK Hynix Surge Over 7% to Record Highs [FN Closing Market Report]

According to The Financial News, the Korea Composite Stock Price Index (KOSPI) soared to the 6,300 level just one day after breaking through the 6,000-point mark, extending its record-setting rally.
On the 26th, the KOSPI closed at 6,307.27, up 223.41 points (3.67%) from the previous trading day. The index opened at 6,121.03, 37.17 points (0.61%) higher than the previous close, and then steadily expanded its gains throughout the session.
Individual investors and institutions bought a net 661.1 billion won and 1.2427 trillion won, respectively, pushing the index higher. Foreign investors, by contrast, recorded net selling of 2.1106 trillion won.
Samsung Electronics and SK Hynix both jumped more than 7%, setting new all-time highs. Samsung Electronics finished up 7.13%, while SK Hynix gained 7.96%. During intraday trading, Samsung Electronics climbed to 219,000 won and SK Hynix to 1,099,000 won, marking fresh record highs.
The rally is seen as being driven by expectations for stronger earnings on the back of rising semiconductor prices, combined with an "earnings surprise" from Nvidia. On the 25th (local time), Nvidia announced that its revenue for the fourth quarter of the last fiscal year (November last year to January this year) came in at 68.13 billion dollars, or about 97 trillion won. This exceeded the 66.2 billion dollars projected by market research firm London Stock Exchange Group (LSEG).
Lee Sung-hoon, a researcher at Kiwoom Securities, stated, "Despite increased profit-taking after the KOSPI broke through the 6,000-point level the previous day, the rise in the Philadelphia Semiconductor Index (SOX) and Nvidia's strong earnings reaffirmed that the Artificial intelligence (AI) industry is in an expansion phase." He added, "As the narrative of strengthening semiconductor earnings momentum continues, the upward trend is likely to persist."
Among other large-cap stocks, Hyundai Motor Company (up 6.47%), LG Energy Solution (up 0.23%), SK Square (up 4.95%), Samsung Biologics (up 2.20%), Kia Corporation (up 5.05%) and Doosan Enerbility (up 0.58%) also showed strength. In contrast, HD Hyundai Heavy Industries (down 0.34%), KB Financial Group (down 1.43%) and Hanwha Aerospace (down 1.49%) weakened.
By sector, electrical and electronics, manufacturing, machinery and equipment, construction, transportation equipment and parts, and IT services advanced. Food and beverages and tobacco, paper and wood, non-metallic minerals, textiles and apparel, electricity and gas, and metals declined.
Meanwhile, the KOSDAQ index closed at 1,188.15, up 22.90 points (1.97%) from the previous session.

jisseo@fnnews.com Reporter Seo Min-ji Reporter