The South Korean benchmark stock index, the Kospi, achieved a historic milestone on Monday, soaring to a fresh intraday record by surpassing the 7,800 point mark for the very first time. This significant surge in the Kospi triggered a powerful buy-side sidecar, signaling strong market momentum.
Opening with robust momentum, the Kospi began Monday’s trading session at 7,775.31, marking a substantial 3.7 percent increase from its prior close. The benchmark index quickly extended its impressive rally, climbing over 4 percent and swiftly breaching the psychological 7,800 barrier in early morning trading. By 9:40 a.m., the Kospi further solidified its position at 7,842.1, showcasing a remarkable 4.59 percent advance.
This record-breaking performance is part of a sustained rally, with the Kospi consistently setting new all-time highs for four consecutive trading sessions. This incredible streak began on May 6, when the index first shattered the 7,000 threshold, a historic moment for the South Korean equity market.
Driving this significant market activity, retail investors emerged as net buyers, acquiring a substantial 540.2 billion won ($366.2 million) worth of shares. In contrast, foreign investors recorded net sales of 366.2 billion won, and institutional investors also divested, selling a net 163.3 billion won.
The technology sector experienced a significant uplift, with South Korean tech shares surging prominently, mirroring the strong performance seen on Wall Street.
Leading the charge were key industry players: Samsung Electronics witnessed a remarkable 7.08 percent surge, reaching 287,500 won, while semiconductor giant SK Hynix jumped by an impressive 11.68 percent, climbing to 1.883 million won. Both companies achieved new intraday highs, underscoring the robust investor confidence in South Korea’s technology leaders.
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