On the 24th, the KOSPI broke through the 3,940 level and closed at a record high. Foreign and institutional investors led the gains as they turned net buyers of more than 2 trillion won. Semiconductor and secondary battery-related stocks were strong, while pharmaceutical and biotech corporations were weak.

On the 24th, a banner reading that the KOSPI hits a record high hangs at the Korea Exchange (KRX) in Yeouido, Seoul. /Courtesy of News1

That day, the KOSPI closed at 3,941.59, up 96.03 points (2.5%) from the previous trading day. Opening at 3,893.23, the KOSPI climbed to as high as 3,951.07 late in the session. In the main bourse, foreigners and institutions bought 568.8 billion won and 1.4971 trillion won, respectively, while individuals dumped 2.0922 trillion won.

By sector, semiconductors, secondary batteries, shipbuilding, and nuclear power were strong. Samsung Electronics (2.38%) and SK hynix (6.58%) jumped, and their combined market capitalization topped 1,000 trillion won, while LG Energy Solution (9.94%), HD Hyundai Heavy Industries (2.95%), and Doosan Enerbility (6.03%) also rose sharply, driving the index higher.

Lee Kyung-min, head of investment strategy at Daishin Securities Co., said, "With easing U.S.-China tensions, Asian stock markets rose across the board," and noted, "Domestic semiconductors and secondary batteries were strong on a rebound in U.S. semiconductor and tech stocks, and the power equipment sector also gained on expectations for artificial intelligence (AI)."

The KOSDAQ index also gained 11.05 points (1.27%) to 883.08 from the previous day. In the KOSDAQ market, institutions were net buyers of 161 billion won, while individuals and foreigners were net sellers of 118 billion won and 28.7 billion won, respectively.

Secondary battery corporations were strong, while biotech corporations were weak. Ecopro and ECOPRO BM rose 8.34% and 8.28%, respectively, but Alteogen, the top KOSDAQ stock by market cap and a leading biotech, fell 1.55%. PharmaResearch (-2.84%) and LigaChem Biosciences (-1.04%) also declined.

At the same time, the won-dollar exchange rate was 1,436.6 won per U.S. dollar, down 0.8 won from the previous trading day in transactions.

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