On the 19th, the KOSPI index, which had topped 9,300 points during trading, ended slightly lower. As the index hit a record high, a wave of profit-taking followed. Still, the decline was not large. It is interpreted as continued expectations that a strong rally in the domestic market will persist on the back of the semiconductor supercycle driven by artificial intelligence (AI) demand.
Meanwhile, as funds concentrated in a few names such as semiconductors, the KOSDAQ market closed lower. The KOSDAQ index, which plunged more than 3%, fell below 1,000 points.
The KOSPI index finished at 9,052.42, down 11.42 points (0.13%) from the previous session. The KOSPI index, which had risen for six straight sessions, underwent a correction for the first time in seven sessions, but buying inflows helped it hold the 9,000 level.
After opening higher, the KOSPI index climbed to 9,385 points in the morning, setting another record high. Samsung Electronics rose to 380,000 won during trading, and SK hynix topped 2.89 million won. Among the top market-cap stocks on the main board, SK Square, Samsung Electro-Mechanics, Samsung Life Insurance, and Samsung C&T all hit intraday record highs.
The sharp rise in U.S. stocks led by tech the previous day significantly improved investor sentiment toward domestic equities. With the war between the United States and Iran concluded, U.S. President Donald Trump emphasized semiconductor production cooperation between Apple and Intel, sending Intel up 11%. Micron also gained more than 8%, fueling a rally centered on semiconductor stocks.
As the KOSPI index showed strong gains, the total market capitalization of Korea's stock market surpassed 8,000 trillion won for the first time ever in the morning. The combined market capitalization of Samsung Electronics and SK hynix alone exceeded 400 billion won.
However, after noon the gains narrowed and the index turned lower. The surge in the index appears to have heightened investors' desire to take profits. The KOSPI index even slipped to the 8,830 level, but buying interest flowed in, paring losses and repeatedly swinging.
In the main board, individuals were net buyers, while foreigners and institutions were net sellers. However, foreigners were net buyers in the KOSPI 200 futures market.
The KOSDAQ index closed at 966.59, down 34.34 points (3.43%). The KOSDAQ index at one point fell more than 5% during trading. While the KOSPI's semiconductor-led rally continues, assessments say the KOSDAQ market's underperformance is deepening.