The KOSPI's upward trend appears to continue on the 12th.
According to the Korea Exchange, the KOSPI index started at 2909.99 and is currently at 2912.13, up 5.09 points (0.18%) from the previous trading day as of 9:02 a.m.
The KOSPI index closed higher for six consecutive transactions from the 2nd to the previous day, surpassing the 2900 mark for the first time in 3 years and 5 months since it last fell below that threshold on Jan. 18, 2022 (2902.79).
Individuals are leading the index's rise with a net purchase of 1.017 billion won. Foreign investors are also net buying 1.3 billion won, while institutions are net selling 892 million won.
The domestic stock market's 'honeymoon rally' seems to be continuing since President Lee Jae-myung's inauguration. The president, who promised a KOSPI of 5,000, visited the Korea Exchange the previous day to express his commitment to supporting the stock market.
By stock, SK hynix, which ranks second in market capitalization on the KOSPI, continues to show strength today. Additionally, Hanwha Aerospace, Hyundai Motor, and Kia are also performing well. Samsung Electronics and Samsung Biologics are underperforming.
At the same time, the KOSDAQ index is also rising, showing an increase of 0.28 points (0.04%) to 786.57. Individuals are leading the rise in the index with a net purchase of 554 million won.
By stock, most of the top market cap stocks on the KOSDAQ have turned red. ECOPRO BM is up 1.05%, while Ecopro, PharmaResearch, and HUGEL are also performing well.
Meanwhile, U.S. stocks in New York closed lower overnight. Although the second round of trade negotiations between the U.S. and China concluded smoothly and U.S. inflation indicators for May showed unexpected slowing, tensions in the Middle East have become a concerning factor.
Reports that the U.S. embassy in Iraq is preparing for staff evacuation have spread risk-averse sentiment, causing the Standard & Poor's 500 index and the Nasdaq index to drop by 0.27% and 0.50%, respectively.