As the KOSPI continues its daily record high rally, market capitalization has surpassed 4,000 trillion won.
According to the Korea Exchange (KRX) on the 16th, as of 2:17 p.m. the same day, the KOSPI's intraday market capitalization was tallied at 3,994 trillion 6.002 billion won. In the morning, backed by institutional buying, it surpassed 4,000 trillion won for the first time ever. It has been about three months since it exceeded 3,000 trillion won based on the closing price on Oct. 15 last year.
Semiconductor stocks led the rise in market capitalization. At the same time, Samsung Electronics (about 880 trillion won in market cap) and SK hynix (548 trillion won) accounted for 35.7% of total market capitalization. LG Energy Solution (91 trillion won), Samsung Biologics (90 trillion won), Hyundai Motor (85 trillion won), and Hanwha Aerospace (66 trillion won) followed.
On the day, the KOSPI index was trading around 4,833, up 0.75% from the previous trading day. During the session, buoyed by institutional buying, it also topped 4,850. After finishing at 4,214.17 on Dec. 30, the last trading day of last year, the KOSPI has extended gains for 11 consecutive trading days in the new year and is on the verge of entering the "Ocheonpi," with the index set to break 5,000.
At the same time, Samsung Electronics was trading at 148,000 won, up 4,900 won (3.41%) from the previous trading day. It climbed to as high as 149,500 won intraday, setting a new 1-year high. SK hynix was trading at 754,000 won, up 5,000 won (0.67%) from the previous trading day.