KOSPI Sets New Record Run... Closes at Another All-Time High, Hits Intraday Peak Again [fn Market Close]

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[The Financial News] The KOSPI extended its rally and once again broke both its closing and intraday records.
On the 28th, the KOSPI closed at 6,641.02, up 25.99 points, or 0.39%, from the previous session, setting a new all-time high. At one point during the session, it rose to 6,712.73, also establishing a fresh intraday record.
The previous closing and intraday highs were 6,615.03 and 6,657.22, both set the day before.
Expectations for earnings from the Magnificent Seven (M7), a group of major U.S. tech stocks, helped support the market, but concerns over the recent sharp rally and stalled ceasefire talks between the United States and the Islamic Republic of Iran (IRI) limited gains.
Institutions were net buyers of 354.6 billion won, driving the index higher. Individuals and foreigners were net sellers of 139.6 billion won and 178.9 billion won, respectively.
Among the large-cap stocks, SK hynix (0.62%), Hyundai Motor (5.92%), LG Energy Solution (1.72%), and SK Square (2.79%) gained ground, while Samsung Electronics (-1.11%), Doosan Enerbility (-0.85%), Hanwha Aerospace (-4.06%), and HD Hyundai Heavy Industries (-0.89%) fell.
By sector, metals, construction, IT services, insurance, transport equipment and parts, chemicals, nonmetals, and financials advanced, while electricity and gas, machinery and equipment, real estate, telecommunications, securities, and food and tobacco declined.
Han Ji-young, a researcher at KIWOOM Securities, said, "In a strong bull market where the KOSPI still has room to move higher, the wide swings on both the upside and downside can make it more difficult to time short-term entries and exits in individual stocks." She added, "From the middle of this week, the market will face a cluster of events that may lead participants to interpret them differently, including the Federal Open Market Committee (FOMC), earnings from the U.S. Magnificent Seven, and results from major domestic companies."
Meanwhile, the KOSDAQ closed at 1,215.58, down 10.60 points, or 0.86%, from the previous session. After opening higher, the KOSDAQ turned lower shortly after the market opened.
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jisseo@fnnews.com Seo Min-ji Reporter