South Korea’s KOSPI Index surged past the 6,000 mark in early trading on Wednesday, fueled by a robust rally in chip stocks.
The KOSPI opened at 6,022.7, a gain of 53.06 points, or 0.89 percent, from the previous trading session. This marked the first time the South Korean stock market benchmark has exceeded the 6,000-point milestone.
After reaching a peak of 6,039.18, the index slightly retreated to 6,005.04 as of 9:20 a.m. KST.
This significant achievement comes approximately four months after the KOSPI initially surpassed the 4,000 level on October 27 of the previous year, and only a month after it closed above 5,000 on January 27.
Shares of leading market players Samsung Electronics and SK Hynix experienced surges, reaching highs of 205,000 won ($142) and 1.01 million won, respectively, during early trading hours.
Retail investors were the primary net buyers on the stock exchange, acquiring 830 billion won worth of shares. In contrast, foreign investors and institutional investors offloaded 536 billion won and 308 billion won, respectively.
The secondary KOSDAQ market commenced trading at 1,174.27, reflecting an increase of 9.27 points, or 0.8 percent, during the session.
In the domestic currency market, the Korean won was quoted at 1,441.6 per U.S. dollar, appreciating by 0.9 won from the previous session.
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