"Breaks Through 9,000"... Semiconductor Rally Makes History [KOSPI Breaks 9,000]

KOSPI rose above 9,000 for the first time, lifted by gains in large-cap semiconductor stocks. It came 16 trading days after the index broke through 8,000 on the 26th of last month.
According to Korea Exchange (KRX) data on the 18th, KOSPI ended the day at 9,063.84, up 199.60 points, or 2.25%, from the previous session. The index opened 0.23% higher at 8,884.92 and extended its gains, briefly touching 9,106.07 just before the close to move past the 9,100 level.
Foreign investors led the rally by buying heavily, especially in large semiconductor stocks. In the KOSPI Market, foreigners bought a net 1.2761 trillion won, while retail investors and institutions sold a net 380.6 billion won and 777.5 billion won, respectively.
SK hynix closed at 2,685,000 won, up 6.51% from the previous session, and set a new record by surpassing the 2.6 million-won mark for the first time. Samsung Electronics rose 4.62% to 362,500 won.
Other large semiconductor-related stocks also strengthened, including SK Square, which rose 6.52%, and Samsung Electro-Mechanics, which gained 8.27%. By contrast, stocks outside the semiconductor sector weakened, including Hyundai Motor Company (-2.75%), LG Energy Solution (-3.85%), and Doosan Enerbility (-3.49%).
The KOSDAQ market was left behind as the rally concentrated in large-cap stocks. KOSDAQ closed at 1,000.93, down 31.03 points, or 3.01%, from the previous session. Retail investors bought a net 392.8 billion won, while foreigners and institutions sold a net 125.3 billion won and 265 billion won, respectively.
Brokerage analysts said the upward trend centered on large-cap stocks remains intact, despite the fallout from the hawkish Federal Open Market Committee (FOMC).
Kang Jeong-eun, a researcher at KB Securities, said, "KOSPI has risen for six straight trading days and set a new all-time high, but the number of advancing stocks was below 110, showing a market dominated by a handful of leading names." She added, "Historically, stronger concentration in leading stocks has signaled that a rally can continue, while broader participation has tended to appear in the later stages of a rally. For now, attention should be on whether the current market led by artificial intelligence (AI) and semiconductors will continue."
koreanbae@fnnews.com Bae Han-geul Reporter