KOSPI Tops 8,000 for the First Time on a Closing Basis... Semiconductors Rally on Institutional Buying

[Financial News] The KOSPI broke above the 8,000 mark on a closing basis for the first time ever. It also briefly climbed past 8,100 during the session on strong buying from institutions and foreigners, but foreign investors turned to net selling just before the close, leaving the index to finish in the 8,040 range.
According to the Korea Exchange (KRX) on the 26th, the KOSPI closed at 8,047.51, up 199.80 points, or 2.55%, from the previous session. The index opened 2.84% higher at 8,079.91 and extended its gains, surging as high as 8,131.15 intraday.
Institutions led the rally, buying more than 900 billion won net. Foreign investors had maintained a net buying position of more than 340 billion won until just before the close, raising hopes that they would turn net buyers for the first time in 13 sessions. However, the final tally showed net selling of 184 billion won. Retail investors sold a net 616.7 billion won.
Large-cap semiconductor stocks such as Samsung Electronics and SK hynix posted strong gains. SK hynix closed at 2,052,000 won, up 5.72% from the previous session, surpassing 2 million won in regular trading for the first time. Samsung Electronics rose to as high as 302,000 won intraday, up 3.25%, briefly reclaiming the 300,000-won level, but trimmed its gains to close at 299,000 won, up 2.22%.
Expectations for progress in ceasefire talks between the United States and Iran also played a major role. Experts said risk appetite improved after reports that the United States and Iran would extend their 60-day ceasefire and sign a Memorandum of Understanding (MOU).
Im Jeong-eun, a researcher at KB Securities, said, "A rally led by large-cap stocks has resumed as oil prices and interest rates stabilized on hopes for talks between the United States and Iran, while demand that had been suppressed during the holiday period flowed back in." She added, "With macro uncertainty easing and supply-demand conditions improving, the KOSPI is expected to attempt to establish itself above the 8,000 level."
Meanwhile, the won–dollar exchange rate closed at 1,504.3 won at 3:30 p.m., down 12.9 won from the previous session, marking its seventh straight trading day in the 1,500-won range.
koreanbae@fnnews.com Bae Han-geul Reporter