Korea's stock market wrote a new chapter in history by flinging open the era of 8,000 points for the first time ever. Beyond simply breaking a number, it is interpreted as proof that the chronic "Korea discount" has been fully resolved and that the market has successfully improved its fundamentals.
On the 15th, the KOSPI touched the 8,000 mark just 10 minutes after the open, as if scoffing at early weakness. As of 9:50 a.m., the index fell to 7,947.26, down 0.42% from the previous day, but that was the result of a wave of sell orders from investors who confirmed a psychological resistance level.
On whether the KOSPI can settle above 8,000, market supply and demand are showing a clear divergence by investor type. With profit-taking flowing in at the peak, individuals and the national pension funds are absorbing it and supporting the lower end of the index.
In the main board, foreign investors recorded a net sale of 963.3 billion won, putting the brakes on the index's rise. In contrast, individual investors showed net buying of 924 billion won, taking up the foreign sell orders. In addition, national pension funds showed a net buying advantage of 55.5 billion won.
The large-cap semiconductor stocks that had led the rally paused to catch their breath. Both Samsung Electronics and SK hynix are showing slight declines of around 1%.
Meanwhile, LG Group shares are strong on expectations for robots and physical AI. LG broke through 150,000 won early in the session to hit an all-time record high. LG Electronics (15.21%), LG CNS (6.39%), and LG Display (2.74%) are rising.
Samsung Electro-Mechanics, which recently joined the ranks of "emperor stocks," set another record high on expectations that semiconductor component prices will rise on demand for artificial intelligence (AI) infrastructure.
At the same time, the KOSDAQ market is weak at 1,175.48, down 1.31%. The KOSDAQ index opened the day at 1,197.23, up 6.14 points (0.52%), but then turned lower.
Among top market-cap stocks, Alteogen, Rainbow Robotics, and LigaChem Biosciences are rising, but EcoPro BM, EcoPro, and Kolon TissueGene are declining.
Overnight, New York stocks ended higher. In particular, the Standard & Poor's (S&P) 500 and the Nasdaq again hit a record high. The Dow also reclaimed the 50,000 mark at the close for the first time in three months since Feb. 11.
It is seen as investor sentiment being buoyed by U.S. President Donald Trump and Chinese President Xi Jinping reaffirming their willingness to cooperate economically through a summit. Trump also appeared to be accompanied by a large group of chief executive officers (CEOs) from major technology and financial corporations on this trip to China.
The White House said on the 14th (local time), after the U.S.-China summit, "Both sides agreed that the Strait of Hormuz must remain open to ensure the free flow of energy," and "Xi made clear China's opposition to any efforts to militarize the Strait of Hormuz or to levy fees for its use."
Tech strength continued. The Philadelphia Semiconductor Index (SOX) also rose 0.46%, lifting semiconductor investor sentiment.