The KOSPI jumped, breaking through 5,700 and 5,800 in a day. In early trading, buying flocked to shipbuilding, defense, nuclear power, and insurance stocks, and in the afternoon, SK hynix surged, lifting the index once more.
On the day, the KOSPI closed at 5,808.53, up 131.28 points (2.31%) from the previous transaction day. The index opened higher than the day before at 5,696.89 and widened its intraday gains.
In early trading, shipbuilding, defense, and nuclear power stocks led the index higher. On news that the White House released the U.S. Ocean Action Plan (AMAP), shipbuilding stocks including Hanwha Ocean, HD Hyundai Heavy Industries (4.89%), and HD Korea Shipbuilding & Offshore Engineering (6.98%) closed higher.
Amid difficulties in U.S.-Iran nuclear talks and observations of a possible Iranian airstrike, Hanwha Aerospace jumped 8%, and defense stocks such as Hanwha Systems (9.49%), LIG Nex1 (5.08%), and Hyundai Rotem (4.76%) also closed higher. Nuclear power-related stocks that drew attention on expectations for overseas orders, including Doosan Enerbility, Hyundai Engineering & Construction (3.22%), and KEPCO E&C (7.98%), were also strong.
Buying also poured into insurance stocks. With securities stocks having surged the day before, it is interpreted as rotational buying into insurance on dividend expectations. With Mirae Asset Life Insurance, Lotte Non-Life Insurance, Heungkuk Fire&Marine Insurance, and Hanwha Life Insurance closing at their upper limits, Samsung Life Insurance (4.78%) and Hanwha General Insurance (25.17%) were also strong.
In the afternoon, SK hynix lifted the KOSPI once again. As news spread that BlackRock, the world's largest asset manager, held 36,407,157 shares of Hynix, pushing its equity stake above 5%, expectations for a semiconductor upcycle surfaced again. SK hynix traded at 955,000 won intraday, marking a new high for the year.
Individuals drove the KOSPI. On the day, institutions were tallied as net buyers of 1.4628 trillion won; specifically, long-term institutional funds such as pensions and insurers were net sellers of 142.2 billion won and 73.9 billion won, respectively, while 1.5797 trillion won in net buying was recorded at the financial investment window, which reflects individual exchange-traded fund (ETF) flows. However, the individual window showed a net sale of 987.2 billion won.
Foreign investors posted net sales for three consecutive transaction days: 922 billion won on the 13th, 939.6 billion won on the 19th, and 678 billion won on the 20th.
Brokerages are raising the KOSPI ceiling. In a report released on the day, Korea Investment & Securities Co. set its KOSPI target at 4,900–7,250 points. Kim Dae-jun, a researcher at Korea Investment & Securities Co., said, "With semiconductor earnings revised up on the development of the artificial intelligence (AI) industry, EPS has risen 40.5% from the start of the year," and explained, "a semiconductor-led rally will continue in the first half."
Meanwhile, the KOSDAQ closed at 1,154, down 6.71 points (0.58%) from the previous transaction day. After foreigners net bought 857.1 billion won the day before and the index jumped more than 4%, it is interpreted that profit-taking emerged on the day. Foreigners moved to "sell," net selling 274.5 billion won.