KOSPI Closes at Record High of 8,864... SK hynix Breaks Through the 2.5 Million Won Mark [Financial News Closing Market Report]

[Financial News] Large-cap semiconductor stocks, led by SK hynix, staged a late-session surge in the afternoon, pushing the KOSPI above the 8,800 level and to a new all-time high. According to the Korea Exchange (KRX) on the 17th, the KOSPI closed at 8,864.24, up 137.64 points, or 1.58%, from the previous session. It was a record high on a closing basis.
The index opened down 1.20% from the previous close at 8,622.13. The decline reflected profit-taking in semiconductor stocks such as Micron (-6.2%) and Intel Corporation (-8.5%) amid a wait-and-see mood ahead of the June Federal Open Market Committee (FOMC), even as hopes grew overnight on Wall Street for a ceasefire agreement between the United States and Iran.
However, SK hynix, buoyed by expectations of shareholder returns, rose 5.84% to close at 2,521,000 won, setting a new all-time high. The KOSPI widened its gains and finished up more than 1%. Samsung Electronics, which had been down more than 2% after the open, also reversed course in the afternoon and ended the session at 346,500 won.
On the main bourse, retail investors bought a net 545.6 billion won, while institutions bought a net 581.9 billion won. Foreign investors were net sellers by 999.9 billion won.
By sector, electricity and electronics (2.75%), pharmaceuticals (1.82%), and electricity and gas (1.23%) all closed higher. Construction (-5.57%), metals (-2.77%), and retail (-1.97%) ended lower.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., said, "Despite lingering caution ahead of the June FOMC and the simultaneous expiration of U.S. futures and options, domestic markets saw buying inflows centered on industrial stocks such as SK hynix."
The KOSDAQ closed at 1,031.96, up 13.28 points, or 1.30%, from the previous session. The index opened 0.12% higher at 1,019.88 and finished with gains of more than 1%.
In the KOSDAQ market, retail investors and institutions sold a net 20.3 billion won and 15.3 billion won, respectively, while foreign investors were net buyers by 32 billion won.

nodelay@fnnews.com Park Ji-yeon Reporter