On the 17th, the KOSPI broke through the 3,790 level intraday, setting a fresh all-time high again.
According to the Korea Exchange and others, at 10:02 a.m. the index turned higher, and by 10:05 a.m. it had topped the 3,760 level. It then successively cleared 3,780 and 3,790, setting a new all-time high. It has been just one day since the KOSPI broke through 3,700 for the first time ever and closed at 3,748.37 the previous day.
That day, the KOSPI started lower at 3,732.76, down 15.61 points (0.42%) from the previous session, as profit-taking desires overlapped with the negative of a New York market drop stemming from the U.S. regional bank situation. However, it turned higher intraday on the back of buying by retail investors and domestic pension funds.
On top of that, foreigners also switched to net buying, fueling gains in the KOSPI. Foreigners began the day as net sellers of 21.3 billion won and even expanded net sales to more than 80 billion won, but then turned to buying. As of 10:46 a.m., they are net buyers of 147.5 billion won.
By stock, both semiconductor shares and secondary battery shares, which rank among the top in market capitalization on the KOSPI, are strong. Specifically, semiconductor stocks Samsung Electronics and SK hynix, the No. 1 and No. 2 by market cap, turned higher after a weak open and are up 1.23% and 4.42%, respectively.
LG Energy Solution, the No. 3 by market cap among secondary battery shares, is also strong. It rose more than 4%, hitting a year-to-date high. In addition, shares of Hyundai Motor and HD Hyundai Heavy Industries are rising. Doosan Enerbility and Hanwha Aerospace are weak.
As of 10:46 a.m., the KOSDAQ was at 870.77, up 5.43 points (0.63%) from the prior trading day. It opened lower at 862.71, down 2.70 points (0.31%) from the previous session, before turning higher. On the KOSDAQ, retail investors are leading the index higher with more than 100 billion won in net purchases.