KOSPI Tops 6,700 for First Time, Hits Record High Again
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South Korea’s benchmark index, KOSPI, surpassed the 6,700 mark for the first time ever during intraday trading on April 28.
The index opened higher and maintained its upward momentum throughout the session, closing at another record high for the second consecutive day.
Institutional investors led the rally with strong net buying, while foreign and retail investors turned net sellers. Foreign investors also showed selling dominance in the futures market.
The market remained resilient despite a lack of major macroeconomic events, as investors awaited big tech earnings and the upcoming FOMC meeting.
Among major stocks, SK hynix, Hyundai Motor, and LG Energy Solution gained ground, with SK hynix hitting a new 52-week high.
Meanwhile, Samsung Electronics and others declined.
The tech-heavy KOSDAQ index, however, ended lower as institutional and foreign selling outweighed retail buying.
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