KOSPI Breaks Through 6,700 as SK hynix Sets Another Record High [Morning Market Update]

[Financial News] The KOSPI Composite Index broke through the 6,700 level intraday for the first time ever, setting a new all-time high.
As of 10:20 a.m. on the 28th, the KOSPI Composite Index was trading at 6,701.85, up 86.82 points, or 1.31%, from the previous session. It touched 6,712.73 during the session, resetting its record high.
Institutions led the rally with a net purchase of 285.4 billion won. Retail investors also bought a net 15 billion won, while foreign investors showed a net selling position of 209.6 billion won.
SK hynix Inc. was trading at 1.325 million won, up 33,000 won, or 2.55%, from the previous day. It also climbed as high as 1.333 million won intraday, setting another record.
Other gainers included Samsung Electronics Co., Ltd. (0.45%), Hyundai Motor Company (7.06%), SK Square Co., Ltd. (5.70%), LG Energy Solution (1.08%), Samsung Biologics (0.46%), Kia Corporation (3.47%), and Samsung Electro-Mechanics (3.27%).
By sector, construction, metals, IT services, transportation equipment and parts, chemicals, manufacturing, electrical and electronics, finance, and retail were all higher. In contrast, electricity and gas, real estate, machinery and equipment, telecommunications, paper and wood, and textiles and apparel were weaker.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, "A KOSPI 200 Volatility Index in the 50s means that the option market's implied annualized expected volatility over the next 30 days is 50%, which translates to about plus or minus 3.16% on a daily basis." She added, "As the KOSPI continues to set new records, sharp daily swings of around 3% may not be unusual."
Meanwhile, at the same time, the KOSDAQ was trading at 1,215.70, down 10.48 points, or 0.85%, from the previous session. The KOSDAQ, which opened higher earlier in the day, quickly turned lower.

jisseo@fnnews.com Seo Min-ji Reporter