KOSPI Surges Past 8,900 Intraday, Breaks Closing Record

The KOSPI index rewrote its all-time record by surpassing the 8,900 mark during trading hours. The index climbed to 8,930 intraday and closed at 8,801.49, up 0.15% from the previous trading day. Increased selling pressure from foreign investors left the task of consolidating above 9,000 for another day.

Although foreign investors net sold over 6.5 trillion won, increasing their selling momentum late in the session, individual investors and institutions bought over 6.3 trillion won and 200 billion won, respectively, defending the index from a decline and succeeding in a last-minute rebound to preserve the record closing price.

Among major stocks by market capitalization, Samsung Electronics rose over 3%, while SK Hynix closed lower.

The KOSDAQ index closed at 1,026.03, down 2.29% from the previous trading day.

On the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,516.4 won, up 12.1 won from the previous trading day. This was attributed to increased preference for the safe-haven dollar amid escalating tensions between the U.S. and Iran.

Concerns lingered that some market liquidity might shift ahead of major upcoming events, including the SpaceX IPO this week. The market reacted more sensitively to major companies' earnings announcements and changes in macroeconomic indicators.