South Korea’s benchmark **Kospi stock index** surged to a new **intraday high** on Tuesday, successfully surpassing its previous peak established prior to the **Iran war** outbreak.
Opening robustly at 6,302.54, the **Kospi index** recorded a 1.34 percent gain from the prior session. Soon after market open, it swiftly broke past its earlier **intraday high** of 6,347.41, ultimately reaching a peak of 6,355.39.
By 9:20 a.m. local time, the **Kospi** maintained strong momentum, trading at 6,337.44, marking a significant 1.9 percent increase.
**Foreign investors** were the primary catalyst for this **market rally**, demonstrating strong confidence by net buying 162.5 billion won ($110.5 million) worth of shares. Institutions also contributed, adding 47 billion won. Conversely, retail investors were net sellers, offloading 205.2 billion won.
In the aftermath of the **Iran war** outbreak, the **Kospi** faced significant headwinds, struggling to regain momentum. The index plunged to a low of 5,042.99 during trading on March 31, as widespread **risk-averse sentiment** impacted the broader market. However, it has since mounted a robust **recovery** throughout this month, buoyed by improved **risk appetite** amid increasing hopes of easing **geopolitical tensions**.
**Large-cap stocks** were at the forefront of these impressive gains. **Samsung Electronics** saw its shares climb 2.1 percent to 219,000 won, while **SK hynix** surged by 3.86 percent to 1.21 million won. Notably, SK hynix shares crossed the 1.2 million won threshold for the very first time in its history.
**Hyundai Motor** also performed strongly, gaining 1.52 percent to reach 535,000 won. Furthermore, **LG Energy Solution** experienced a substantial surge of 7.11 percent, closing at 459,500 won.
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