On the 19th, the first trading day after the Lunar New Year holiday, the KOSPI set a new record high on a closing basis. It is now just 22.75 points away from firmly settling above 5,700. The KOSDAQ index also surged nearly 5% at the close, powered by explosive net buying by foreigners.
The KOSPI index jumped 170.24 points (3.09%) from the previous trading day to close at 5,677.25. In intraday trade, it spiked to as high as 5,681.65, showing strong upward momentum.
In the main board, institutions were the key driver, net buying 1.6378 trillion won. In contrast, foreigners and individuals sold 918.0 billion won and 860.5 billion won, respectively, to take profits.
Unlike in the cash market, foreigners were net buyers of 65.9 billion won in KOSPI 200 futures. Kim Ji-hyun, an analyst at Daol Investment & Securities, said, "Non-arbitrage transactions (2.1 trillion won) expanded significantly, exceeding the size of arbitrage transactions (680.0 billion won) that day, which suggests the possibility that foreigners' increased weighting of Korea was partly reflected."
Samsung Electronics, a KOSPI large cap, jumped 4.86%, leading the index higher. Samsung Electronics climbed intraday to 190,900 won, briefly achieving the "190,000 won Electronics" mark.
HD Hyundai Heavy Industries also posted gains in the 5% range, and Kia and Hanwha Aerospace rose more than 3%.
Elsewhere, Hyundai Motor (2.81%), LG Energy Solution (2.15%), Doosan Enerbility (1.76%), SK hynix (1.59%), SK Square (1.43%), and Samsung Biologics (0.58%) also advanced. KB Financial fell 0.83% in a slightly weaker close.
Securities stocks, in particular, were exceptionally strong. Hanwha Investment & Securities, Sangsangin Investment & Securities, and SK Securities hit the daily upper limit, while Mirae Asset Securities (14.45%) and Samsung Securities (10.40%) also rose more than 10%. The securities sector's fee revenue increases as transaction value grows, making it a representative beneficiary of a bull market.
Lee Jae-won, an analyst at Shinhan Investment & Securities, said, "On expectations that the third amendment, centered on mandatory cancellation of treasury shares, will be handled at this month's provisional National Assembly, securities stocks with high treasury-share ratios are extending their gains."
The KOSDAQ index also jumped 54.63 points (4.94%) from the previous trading day to finish at 1,160.71. The KOSDAQ index crossed back above the 1,160 level for the first time in 12 trading days, since on the 29th of last month (1,164.41).
In the morning session on the KOSDAQ, the KOSDAQ150 futures and cash indexes surged more than 6%, triggering a five-minute buy-side sidecar. It was the first KOSDAQ buy-side sidecar in 15 trading days since on the 26th of last month, and the second this year. Program net buying at the time reached 347.2 billion won.
On the KOSDAQ, institutions and foreigners were net buyers of 1.0429 trillion won and 857.1 billion won, respectively. In particular, the scale of foreigners' net buying on the KOSDAQ was the second largest since related data began to be compiled in 1999. The largest-ever foreign net purchase was on July 26, 2023, when they bought 877.7 billion won of stocks.
Market-cap leaders on the KOSDAQ also lit up in unison. Caregen soared more than 20%, and Sam Chun Dang Pharm and EcoPro jumped 19.44% and 14.56%, respectively. EcoPro BM (9.13%), Alteogen (7.72%), Rainbow Robotics (7.16%), HLB (5.68%), ABL Bio (5.53%), Kolon TissueGene (2.91%), and LEENO Industrial (2.36%) were also strong.
The analyst said, "With the positive trend in the U.S. stock market during the Lunar New Year holiday, strength in artificial intelligence (AI) infrastructure and memory continued, and the index hit a new high," adding, "Events that can carry the semiconductor momentum higher are lined up, including Nvidia's earnings due on the 25th and Nvidia's technology conference GTC 2026 in the United States in March."