The KOSPI index topped 4,700 for the first time ever. After opening slightly lower at 4,685.11 points, the index, boosted by retail and institutional buying during the session, broke above 4,700 and is moving around the flat line.
As of 9:14 a.m., the KOSPI index was trading in the 4,695 range, up 2.56 points (0.05%) from the previous day. The index opened at 4,685.11 points and briefly broke above 4,700 early in the session, but gave back gains on foreign selling.
In the main board, individuals and institutions are net buyers of 80.8 billion won and 120 billion won, respectively, leading the index higher. The national pension fund and investment trusts are also net buyers. Foreign investors alone are pressing the index lower with 203.2 billion won in net selling.
Semiconductor stocks such as Samsung Electronics and SK hynix (up 0.41%) are rising around the flat line, while Hyundai Motor (up 1.35%), Hyundai Mobis (up 3.22%) and other Hyundai Motor Group stocks that were strong the previous day, as well as Hanwha Aerospace (up 2.18%) and Hanwha Ocean (up 3.8%) in shipbuilding and defense, are falling.
At the same time, the KOSDAQ index was trading at 947.06, down 1.92 points (0.2%) from the previous day. After opening slightly higher at 951.03 from the prior session's close, the KOSDAQ index is widening losses on foreign selling during the session.
In the KOSDAQ market, foreigners and institutions are selling 84.8 billion won and 36.5 billion won worth, respectively, dragging the index lower. Individuals alone are net buying 128.2 billion won worth.
Eight of the top 10 KOSDAQ stocks by market capitalization are "red lights off," signaling declines. Alteogen (down 0.42%), ECOPRO BM (down 1.41%), EcoPro (down 1.95%), and ABL Bio (down 0.05%) are falling. Only Rainbow Robotics and HLB are edging higher.
In the Seoul foreign exchange market, the won-dollar rate opened at 1,477.2 won, up 3.5 won from the previous week's transaction closing price.