The KOSPI started higher and once again set an intraday record high. Although cease-fire talks between the United States and Iran appear to be dragging on, major listed companies in Korea are posting improved earnings, extending the earnings-driven bull run.
On the 27th, the KOSPI started trading at 6,533.60, up 57.97 points (0.90%) from the previous session. As gains widened early, it also broke through 6,560 points. It was an intraday record high. As of 9:25 a.m., the KOSPI was up more than 1%, showing strength.
In the main board, foreigners are net sellers, but institutions are net buyers. In particular, pension funds are net buyers as well.
The KOSDAQ is also strong. The KOSDAQ opened at 1,213.13, up 9.29 points (0.77%), with gains widening somewhat. On the KOSDAQ, institutions and individuals are net buyers.
While large-cap chip stocks are leading the index higher, shares of power equipment makers, whose profits are surging on rising artificial intelligence (AI) demand, are also jumping. SK hynix topped 1.28 million won to hit a record high, and Hyosung Heavy Industries surpassed 4 million won for the first time.
U.S. stocks in New York were mixed over the weekend, but technology shares, including semiconductors, rose. Talks between the United States and Iran remain stalled, with both expectations and tensions surrounding the negotiations. Still, amid a surge in global semiconductor demand, chip indexes jumped.
Han Ji-young of Kiwoom Securities said, "As we enter the full-fledged earnings season, key sectors at home and abroad are set to report results all at once," adding, "There is also an event this month where the U.S. Federal Reserve will hold the Federal Open Market Committee (FOMC) meeting to set interest rates, so market volatility could increase in the short term."