Summary
- The Kospi index broke above 7,400 after opening above 7,000 and extending gains in afternoon trading.
- Foreign investors net bought 1.6755 trillion won, while retail and institutional investors sold 747.6 billion won and 724.8 billion won, respectively.
- Samsung Electronics, SK Hynix, SK Square and brokerage shares gained, while the Kosdaq index fell.
Forecast Trend Report by Period
Tops 7,000 at the Open
Retail and Institutions Sell
South Korea’s Kospi rose above 7,400, led by gains in heavyweight chip stocks such as Samsung Electronics and SK Hynix, as well as brokerage shares.
As of 1:30 p.m. on May 6, the benchmark index was up 6.93% from the previous close at 7,417.41, according to the Korea Exchange. The Kospi moved above 7,000 at the open and climbed past 7,400 in afternoon trading.
Foreign investors drove the rally, with net purchases of 1.6755 trillion won. Retail investors were net sellers of 747.6 billion won, while institutions sold 724.8 billion won.
Buying was concentrated in large-cap semiconductor names. Samsung Electronics was trading 15.59% higher at 268,750 won, while SK Hynix rose 10.95% to 1,605,500 won.
SK Square, which holds a stake in SK Hynix, also gained. The stock climbed 9.18% from the previous session to 1,082,000 won, topping the 1 million-won mark.
Brokerage stocks also surged as the bull market extended. Mirae Asset Securities rose 23.9% to 87,100 won. Kiwoom Securities gained 15.38%, Yuanta Securities Korea advanced 29.85%, Hanwha Investment & Securities added 13.68%, Daol Investment & Securities rose 12.22%, Hyundai Motor Securities gained 10.30%, and Samsung Securities climbed 10.15%.
The Kosdaq index was weaker, falling 1.05% from the previous close to 1,200.98.
Yang Ji-yoon, Hankyung.com reporter yang@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.
