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Kospi Hits Record High Above 4,700
15 Jan
Summary
- The Kospi index surpassed the 4,700 mark for the first time.
- Major tech stocks Samsung Electronics and SK hynix saw gains.
- Foreign investors sold shares, while institutional and retail bought.
South Korea's main stock index, the Kospi, achieved a historic feat on Wednesday, breaking through the 4,700-point level for the very first time. The index opened lower but rapidly reversed its trend, reaching an intraday high of 4,715.75 and settling above 4,700. This significant market achievement reflects growing investor confidence.
Key players in the market, including technology giants Samsung Electronics and SK hynix, contributed to the upward momentum. Despite initially trading lower, both companies saw their stock prices rise. This performance underscores the influence of large-cap stocks on the overall market direction.
The trading activity saw foreign investors net selling 283.1 billion won. Conversely, domestic institutional and retail investors demonstrated strong buying interest, purchasing shares worth 143.5 billion won and 128.9 billion won, respectively, signaling robust local investment.
