The KOSPI index opened by surpassing the 5,100 mark for the first time on record. The KOSDAQ index also started around 1,090 and is now at the 1,100 level.
As of 9:13 a.m. on the 28th, the KOSPI index was at 5,169.14, up 1.66% (84.29 points) from the previous session. The KOSPI index opened at 5,145.39, up 60.54 points (1.19%) from the previous day.
The main board is being led by individual investors. Individuals are net buyers of 294.2 billion won, while foreigners and institutions are net sellers of 219.9 billion won and 71.0 billion won, respectively.
All of the top market-cap stocks on the main board are flashing red. Samsung Electronics and SK hynix are up in the 1% range, while LG Energy Solution is showing gains in the 7% range.
At the same time, the KOSDAQ index was at 1,101.98, up 19.39 points (1.79%) from the previous session. The KOSDAQ index opened at 1,093.47, up 10.88 points (1.00%) from the day before.
On the KOSDAQ market, individuals and foreigners are net sellers of 199.0 billion won and 15.7 billion won, while institutions alone are net buyers of 232.0 billion won.
Top market-cap stocks on the KOSDAQ are also gaining across the board. In particular, EcoPro is rising in the 4% range. Alteogen, EcoPro BM, Rainbow Robotics, Sam Chun Dang Pharm, HLB, Kolon TissueGene, LigaChem Biosciences, and Peptron are all climbing.
Overnight, the U.S. Standard & Poor's (S&P) 500 closed at a record high on hopes for strong big-tech earnings. The S&P 500 ended trading at 6,978.60, up 28.37 points (0.41%) from the previous session, breaking its previous record high.
The tech-heavy Nasdaq composite closed at 23,817.10, up 215.74 points (0.91%) from the previous session. However, the Dow Jones Industrial Average, composed of 30 blue-chip stocks, finished at 49,003.41, down 408.99 points (−0.83%) from the previous session, dragged down by a sharp drop in UnitedHealth (−19.61%).
The strength in U.S. stocks is seen as reflecting expectations of "surprise earnings" ahead of the Magnificent 7 (M7) reports. Tesla, Microsoft, and Meta will release their quarterly results after the close on the 28th. Apple is set to report on the 29th.