The KOSPI rose nearly 2% in early trading on the 29th, fluctuating around the 8,400 level. The rally continued after reports overnight that U.S.-Iran cease-fire talks were wrapping up, and after the National Pension Service decided the previous day to sharply raise the share of domestic stocks.
As of 11:33 a.m., the KOSPI was trading at 8,373.71, up 188.42 points (2.30%) from the previous session. The index opened at 8,384.31, up 199.02 points (2.43%) from the previous session, and climbed to as high as 8,424 in early trading. It has since been moving up and down around the 8,400 level.
In the main board, foreigners and retail investors are net sellers. Foreign investors are unloading nearly 1.5 trillion won, and individuals are selling more than 800 billion won. In contrast, institutions are net buying about 2.25 trillion won, helping lift the KOSPI.
Investor sentiment appears to have improved after reports overnight that U.S.-Iran cease-fire talks had entered the final stage. U.S. outlet Axios reported that the United States and Iran had agreed on a memorandum of understanding (MOU) to end the war and were awaiting final approval from U.S. President Donald Trump.
The National Pension Service's decision the previous day to normalize the share of domestic stocks also appears to be supporting the market. The National Pension Service approved a 2026 asset allocation plan that raises the target share of domestic stocks to 20.8% from 14.9%. It also decided to widen the permissible band for strategic asset allocation (SAA) from the previous ±3%, allowing holdings of domestic stocks up to 25.8%+α.
Most of the top KOSPI market-cap corporations are rising. Samsung Electronics and SK hynix are up 3.34% and 0.57% to 309,500 won and 2,302,000 won, respectively. Samsung Electro-Mechanics is also strong, trading at 2,143,000 won, up 294,000 won (15.90%) from the previous session.
The KOSDAQ opened at 1,112.15, up 7.79 points (0.71%) from the previous session, then reversed lower in early trading and is down more than 3%. As of 11:33 a.m., it was trading at 1,065.91, down 38.45 points (3.48%) from the previous session.
On the KOSDAQ, foreigners and institutions are selling heavily in tandem. Foreign investors are net selling 170 billion won and institutions 110 billion won, while individuals are net buying 280 billion won.