KOSPI Breaks 7,000 Intraday, Settles Near 6,960 as Chipmakers Surge
South Korea's benchmark index hit 7,007 points before easing, driven by heavy buying in semiconductor stocks.
Key points
- KOSPI reached 7,007.10 points intraday before settling near 6,950 on September 21.
- Foreign investors bought 448.1 billion won while retail traders sold 3,631.5 billion won.
- SK hynix shares surged 6.42 percent and Samsung Electronics rose 3.37 percent.
The KOSPI index pierced the 7,000-point threshold intraday on September 21. It reached a session high of 7,007.10 points before retreating to the 6,950 range.
The index opened at 6,938.34 points, a gain of 0.64 percent. This recovery reflects improved risk appetite ahead of the Chuseok holiday closures.
Foreign and institutional flows support index
Foreign investors bought a net 448.1 billion won of shares. Institutional investors added a net 3,183.5 billion won to their positions.
Retail traders sold a net 3,631.5 billion won during the session. They took profits and secured cash before the upcoming long weekend.
Chipmakers drive index gains
SK hynix shares climbed 6.42 percent to 1,857,000 won. Samsung Electronics rose 3.37 percent to 261,000 won.
Businesskorea reports these gains stem from high bandwidth memory demand. Global AI semiconductor expectations also boosted investor confidence in these leaders.
Market awaits holiday liquidity shifts
Traders adopted a cautious stance before the September 24 to 25 break. Selling pressure emerged as the index tested its recent highs.
The KOSDAQ index opened higher and sought a fourth daily gain. It traded steadily near the previous close of 827.12 points.
