The KOSPI index topped 4,900 for the first time ever, breaking its previous record. It is now just a little over 90 points shy of the milestone 5,000 points for the Korean stock market. Assuming the recent uptrend continues, a break above 5,000 as soon as on the 20th is within reach.
On the 19th, the KOSPI index finished at 4,904.66, up 63.92 points (1.32%). The KOSPI opened slightly lower, rebounded early, and its intraday gains kept widening.
Since the first trading day of the new year on the 2nd, the KOSPI index has risen for 12 straight trading days without a single down day. After topping 4,300 on the first session of the year, it crossed 4,400 the next day, then 4,500, 4,600, 4,700, 4,800, and 4,900, setting records just this month. As the index surged in a short span, some investors betting on a pullback bought inverse products, but they repeatedly took losses.
Foreign investors were net buyers on the day, driving the index higher. In the main board, foreigners posted net purchases of 550 billion won. Pension funds were net buyers during the session but turned net sellers near the close. Individuals were net sellers of 750 billion won.
With the market hitting fresh all-time highs day after day, expectations are stronger than ever that the domestic rally will continue at least to 5,000 points. On the 19th last week, President Donald Trump revealed ambitions for Greenland and mentioned the possibility of imposing additional tariffs on European allies. This dragged down U.S. index futures and weighed on Japanese stocks, but investor sentiment toward the domestic stock market did not waver.
Rather, some in the market said the World Economic Forum annual meeting (Davos) opening on the 19th local time could be another positive for the domestic market. As with the world's largest IT trade show "CES 2026" and the "J.P. Morgan Healthcare Conference" earlier in the year, the Davos opening could be an event that stirs investment sentiment for growth sectors such as robots and biotech.
On the main board, big semiconductor stocks rose while Hyundai Motor Group shares surged across the board, supporting the index. Analysts said a rerating took place as Hyundai Motor Group deepened cooperation with big tech such as Google and Nvidia, and expectations grew for the Robotics business of core affiliate Boston Dynamics.
As the Robotics industry grows, expectations that conditions will improve for Korea's battery industry lifted secondary battery stocks as well. Samsung SDI jumped, and LG Energy Solution also closed higher.
The KOSDAQ index also ended at 968.36, up 13.77 points (1.44%). Strength in secondary battery and Robotics sectors helped. EcoPro BM and Rainbow Robotics each rose 4% to 5%.