KOSPI Reclaims Intraday 5,000 Mark a Day After Slipping Back

South Korea’s KOSPI returned above the 5,000 level intraday just one day later, as global trade jitters eased on signs of de-escalation in the dispute over Greenland’s annexation.

As of 9:14 a.m. on the 23rd, the KOSPI was up 44.99 points, or 0.91%, from the previous session at 4,997.52. After opening 0.64% higher, the index briefly touched 5,015.25 in early trading, climbing back above 5,000 intraday for a second straight day.

Overnight on Wall Street, major indexes extended an “relief rally” into a second session as tensions over Greenland’s annexation ebbed. U.S. President Donald Trump said the previous day that he would not use force over the Greenland issue, and also said he would withdraw tariffs he had planned to impose on major European countries.

Stocks also drew comfort from news that the United States, Ukraine and Russia agreed to hold their first trilateral talks aimed at ending the war.

At this hour in the main bourse, retail investors logged net buying of 310 billion won. Foreigners and institutions were net sellers of 243 billion won and 40 billion won, respectively.

Moves among the KOSPI’s top market-cap names were mixed. Samsung Electronics, LG Energy Solution, Samsung Biologics and HD Hyundai Heavy Industries were higher, while SK hynix, Hyundai Motor, Hanwha Aerospace and Kia were lower.

Hyundai Engineering & Construction was surging more than 12% on expectations for an end to the Russia-Ukraine war and anticipated inclusion in an MSCI index. Kakao Pay was up more than 6% on earnings expectations. Korea Electric Power was down more than 4% amid profit-taking.

The KOSDAQ also extended gains for a second day. At this hour, the KOSDAQ was up 0.55% from the previous session at 975.68. In the KOSDAQ market, retail and institutions posted net buying of 84 billion won and 31 billion won, respectively, while foreigners were net sellers of 100 billion won.

Alteogen, the top KOSDAQ stock by market cap, which had posted sharp declines in recent sessions, was attempting a rebound with a 1% gain. Robot-related shares such as Suprema and HurimRobot were surging in early trade.

The won-dollar exchange rate opened lower. In Seoul’s FX market, the won traded at 1,465.0 per dollar at the open, down 4.9 won from the previous session.

Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com