Summary
- The Kospi hit a fresh intraday record high, while the Kosdaq was also nearing a new record high.
- Large-cap stocks led the gains, with SK Hynix rising as high as 1.35 million won during the session to set another record high.
- In the Kospi market, foreign investors and institutions were net buyers of 898.2 billion won and 581.8 billion won, respectively, while retail investors were net sellers of 1.428 trillion won.
Forecast Trend Report by Period
Won-Dollar Exchange Rate Opens 10.4 Won Lower
South Korea’s Kospi extended its run of intraday record highs on May 4, while SK Hynix climbed to a fresh all-time high.
As of 9:16 a.m., the benchmark Kospi was up 164.3 points, or 2.49%, at 6,763.17. Earlier in the session, it rose as much as 2.79% to 6,782.93, surpassing the previous intraday record of 6,750.27 set in the prior session.
Investor sentiment improved after major US stock indexes closed at record highs last week. The S&P 500 set all-time highs for a second straight session, while the Nasdaq closed above 25,000 for the first time.
Lower oil prices also supported the market after US President Donald Trump said he would help third-country vessels trapped in the Strait of Hormuz leave safely.
In the Kospi market, foreign investors were net buyers of 898.2 billion won, while institutional investors bought a net 581.8 billion won as of that time. Retail investors were net sellers of 1.428 trillion won.
Most large-cap Kospi stocks were higher. Samsung Electronics gained 2.04%, while SK Hynix rose 4.9%. SK Hynix climbed as high as 1.35 million won during the session, setting another record.
Sanil Electric, Taihan Cable & Solution, LS and Iljin Electric surged on expectations for stronger overseas sales of power equipment.
The Kosdaq also rose more than 2%, putting its intraday record of 1,229.42 within reach. As of that time, the index was up 2.29% at 1,219.65.
On the Kosdaq, cable-related stock Jeryong Electric hit the daily upper limit.
The won-dollar exchange rate opened lower in Seoul. The won was quoted at 1,472.9 per dollar, down 10.4 won from the previous session.
Noh Jung-dong, Hankyung.com reporter dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
