KOSPI Composite Index Rebounds to a Record High, Closes at 7,490 [fn Closing Market Report]

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[The Financial News] The KOSPI Composite Index, which rebounded on the 7th, ended the session in the 7,490 range and set a new all-time high. Despite massive net selling by foreign investors worth more than 7 trillion won, the index closed at 7,490.05, supported by counter-buying from retail and institutional investors. It extended its record for a second straight day after first breaking the 7,000 mark the previous day.
The KOSPI Composite Index finished 1.43% higher than the previous session at 7,490.05. It opened up 1.55% at 7,499.07 and climbed as high as 7,531.88, briefly moving above the 7,500 level. It then turned lower and fell to the 7,250 range before swinging back and forth, then widened its gains late in the session.
The previous day, the KOSPI Composite Index had surged more than 6% to top 7,000 for the first time ever.
By investor type, foreigners posted net sales of more than 7 trillion won on the Korea Exchange Main Board. In contrast, individuals and institutions bought a net 599.01 billion won and 109.82 billion won, respectively, helping support the index.
Large-cap stocks also strengthened late in the session. Samsung Electronics and SK hynix both reversed course and closed higher, rising 2.07% and 3.31% to 271,500 won and 1,654,000 won, respectively. By contrast, Korea Zinc (-10.70%), Hanwha Aerospace (-8.09%), and Mirae Asset Securities (-5.73%) ended lower.
By sector, general services rose 4.96%, distribution gained 4.23%, and transportation and warehousing advanced 3.80%. On the other hand, securities fell 4.56% and metals declined 3.46%.
The KOSDAQ Index closed 0.91% lower at 1,199.18.
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elikim@fnnews.com Kim Mi-hee Reporter