KOSPI Recovers 7,000 Mark Just Before Market Close

The KOSPI regained the 7,000 level just before the closing bell, ending higher ahead of the holiday break. The index opened lower at around 6,930, swung repeatedly between gains and losses through the session, but picked up buying momentum in the final stretch to recover 7,000.

The KOSDAQ started the day down and briefly turned positive early in the session, but failed to sustain the rally. Gains slowed, led by semiconductor materials, parts, and equipment stocks, pushing the index back down. It briefly climbed above 900 before turning lower to finish at 890.

On the supply-and-demand front, retail and foreign investors sold shares, while institutions were the sole net buyers, underpinning the index. Other corporate investors also net bought more than 1 trillion won, buoyed by Samsung Electronics' and SK hynix's share buybacks, adding momentum to the rally. The two semiconductor heavyweights closed flat.

Overnight, the U.S. 10-year Treasury yield rose to as high as 5.36% intraday but pared its gains following dovish remarks by Federal Reserve Vice Chair Philip Jefferson. The 10-year yield finished at 5.234%, down 0.01 percentage point from the previous session, returning to a downward trend after seven trading days. Against this backdrop, all three major indexes on Wall Street closed modestly higher.

In the Seoul foreign exchange market, the won-dollar exchange rate stood at 1,350.6 won as of 3:30 p.m.