Seoul’s benchmark Kospi index achieved a historic milestone on Thursday, opening at a new record high and successfully breaching the 6,700 mark. This impressive surge in the Korean stock market was largely fueled by foreign investors, who emerged as significant net buyers at the start of the trading session.
The key Seoul stock index commenced trading with a robust 0.72 percent increase, reaching 6,739.39, and rapidly ascended to an intraday high of 6,750.27. This strong rally further extended the gains witnessed in the preceding session, which saw the Kospi index surpass the 6,700 level intraday for the first time ever, ultimately closing at a then-record high of 6,690.
Should the Kospi index sustain these gains through Thursday’s market close, it would solidify its position with a remarkable fourth consecutive record closing high, further underscoring the current bullish sentiment in the Korean stock market.
This significant early advance in the Seoul stock market was predominantly propelled by active foreign buying. Overseas investors demonstrated strong confidence, accumulating nearly 400 billion won (approximately $269.7 million) in net purchases by 9:08 a.m. Conversely, individual retail investors began the trading day as net sellers, while domestic institutions quickly transitioned to net buyers within the initial minutes of the session.
Complementing the Kospi’s performance, the secondary Kosdaq market also showed positive momentum, opening 0.37 percent higher at 1,224.75, indicating broader optimism across the Korean equities landscape.
jwc
