The KOSPI index has surpassed 3,900 for the first time ever, putting the achievement of KOSPI 4,000 within sight.
As of 12:15 p.m. on the 23rd, the KOSPI index was trading at 3,897.73, up 14.05 points (0.36%) from the previous trading day. The KOSPI index rose to as high as 3,902.21 during the session, breaking through 3,900 for the first time.
Early in the session, the KOSPI index fell more than 1% on the back of an overnight decline in U.S. stocks, but institutions halted their selling spree, leading the index to rebound. Bargain hunting by retail investors also added support.
Investor sentiment appears to have improved as the Bank of Korea kept its benchmark rate unchanged amid expectations of a conclusion to the South Korea–U.S. tariff negotiations.
In the main board, at the same time, individuals were net buying 484.1 billion won worth of shares, while foreigners and institutions were net selling 483.9 billion won and 1.6 billion won, respectively. Institutions sold about 500 billion won in the morning but sharply reduced their selling.
Among top-cap stocks by market capitalization, Hanwha Aerospace (4.87%), SK hynix (1.14%), and Samsung Biologics (0.17%) were rising. SK hynix fell nearly 3% early in the session but rebounded. Samsung Electronics also fell more than 3% but had pared losses to 0.41% at the same time.
Elsewhere, Doosan Enerbility (-2.28%), Hyundai Motor (-1.72%), and Kia (-1.35%) were weak.
The KOSDAQ index, at the same time, was trading at 879.49, up 0.34 point (0.04%) from the previous trading day. The KOSDAQ index also was down about 1% before turning higher.
In the KOSDAQ market, individuals and institutions were net buyers of 79.1 billion won and 7.9 billion won, respectively, while only foreigners sold 50.7 billion won.
Among top KOSDAQ stocks by market cap, PharmaResearch (1.07%), Alteogen (0.66%), and HLB (0.57%) were gaining. Ecopro (-4.00%), Sam Chun Dang Pharm (-1.94%), and Rainbow Robotics (-1.33%) were weak.
Lee Jae-won, a researcher at Shinhan Investment & Securities, said, "Retail investors have been net buying for two straight trading days, supporting the downside of the index," and noted, "It is the only gainer among Asian stock markets."