SEOUL, February 04 (AJP) - Korean stocks continued to dominate regional markets on Wednesday, extending their record-setting streak and reinforcing South Korea’s growing influence in Asian equities.
Samsung Electronics powered the rally, becoming the first Korean company to surpass 1,000 trillion won ($688 billion) in market capitalization based solely on common shares. The milestone cemented the chipmaking giant’s role as the anchor behind the KOSPI’s push into uncharted territory.
Shares of Samsung Electronics rose 0.8 percent to 168,800 won, lifting its market value to 1,001 trillion won. The achievement was widely viewed as symbolic, marking not only a new chapter for the company but also underscoring a broader re-rating of Korea’s equity market led by heavyweight blue chips.
Samsung’s advance helped drive the KOSPI up 1.6 percent to 5,371.1, marking the first close above the 5,300 level. The benchmark opened lower at 5,260.7, tracking overnight weakness in U.S. equities, but quickly reversed course and extended gains through the afternoon.
The KOSPI 200 climbed 1.4 percent to 790.4, reflecting renewed institutional appetite for large-cap stocks.
Institutions remained the primary driver, buying a net 1.78 trillion won, while foreign investors and retail investors sold 940 billion won and 1.01 trillion won, respectively.
Beyond Samsung, gains spread selectively across cyclical and policy-sensitive names. Hyundai Motor rose 2.5 percent, while Doosan Enerbility jumped 5.8 percent, reinforcing strength in energy and infrastructure-related stocks.
Sector performance pointed to a clear rotation into energy-linked names. Energy equipment and services stocks surged 16.02 percent, leading the market.
Hanwha Solutions soared 30 percent to 36,450 won, while HD Hyundai Energy Solutions jumped 29.8 percent to 70,500 won, driven by expectations of sustained demand for energy infrastructure and storage solutions.
EcoPro gained 3.5 percent, and Hanwha Ocean advanced 1.8 percent, extending gains across the broader industrial complex.
The KOSDAQ lagged the main board but still closed higher, rising 0.5 percent to 1,149.4. The tech-heavy index underperformed as investors remained cautious toward growth stocks following recent volatility.
On the secondary market, individual investors bought a net 234.5 billion won, while foreigners and institutions sold 53.9 billion won and 144.4 billion won, respectively.
Some pockets of weakness persisted. SK hynix slipped 0.8 percent to 900,000 won, while NAVER fell 1.7 percent to 264,500 won. Healthcare technology was the weakest sector, down 2.5 percent, reflecting continued profit-taking.
The won weakened further, with the dollar rising 2.1 won to 1,453.1.
Global developments remained a key overhang. U.S. President Donald Trump announced new tariffs of 25 percent on imports from Canada and Mexico and 10 percent on Chinese goods. Although he later granted a one-month delay for Canada and Mexico after the two countries pledged stronger border controls, Trump warned that tariffs on China could be raised further if negotiations fail.
European markets slid sharply on fears that similar measures could be extended to the European Union.
Elsewhere in Asia, markets were mixed. Japan’s Nikkei 225 fell 0.8 percent to 54,293.4 amid trade jitters, while China’s Shanghai Composite rose 0.9 percent to 4,102.2, supported by selective buying in industrial and energy-linked stocks.
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