KOSPI jumps 3.7%, edging closer to the 6,600 level [Financial News closing market report]

[Financial News] The KOSPI rose more than 3% on the back of a rebound in U.S. technology stocks, climbing to just below the 6,600 level. Along with gains in the New York stock market overnight, buying focused on large semiconductor shares pushed the index higher, and a buy-side circuit breaker was briefly triggered during the session. The KOSDAQ also extended its winning streak to a fourth consecutive trading day.
According to the Korea Exchange on the 5th, the KOSPI closed at 6,598.26, up 239.31 points, or 3.76%, from the previous session. It rose for a second straight day after gaining 1.62% the day before. The index opened at 6,603.48, up 244.53 points, or 3.85%, from the previous close, and widened its gains to as much as 6,674.66 in early trading before slipping to 6,540.27 on profit-taking. Buying then returned, helping the index settle above the 6,590 level. The KOSDAQ also finished at 799.59, up 18.87 points, or 2.42%, marking four straight sessions of gains.
Overnight gains across the three major New York stock indexes, along with renewed buying in large-cap tech shares, improved investor sentiment in Korea. As a result, the Korea Exchange Main Board briefly activated a buy-side circuit breaker in early trading after a sharp surge in share prices.
By investor type on the Korea Exchange Main Board, foreigners were net buyers of more than 1.4 trillion won, driving the index higher. In contrast, individuals and institutions were net sellers of 1.1833 trillion won and 283.7 billion won, respectively, as they locked in profits.
Large-cap stocks with the biggest market values were mostly strong. Semiconductor heavyweights such as Samsung Electronics (2.50%) and SK hynix (5.77%) led the market, while LG Innotek (14.48%) and Samsung Electro-Mechanics (14.43%) posted standout gains.
By sector, most groups advanced, including construction (6.16%), machinery and equipment (5.58%), and electrical and electronics (4.47%).
In the KOSDAQ market, individuals bought a net 395 billion won, while foreigners and institutions sold a net 298 billion won and 110.8 billion won, respectively. Among individual stocks, most of the top market-cap names also moved higher.

[email protected] Kim Mi-hee Reporter