SEOUL, February 20 (AJP) - Korea’s main KOSPI played solo with eyes set on the next historic milestone of 6,000, regardless of simmering tensions in the Middle East that weighed on markets across the region and the globe.
The key index rose 2.3 percent to close Friday at 5,808.5, bouncing right back after dipping to 5,684.9. The blue-chip KOSPI 200 advanced 2.3 percent to 859.6.
It diverged from regional peers. Japan’s Nikkei 225 fell 1.1 percent to 56,825.7, while Hong Kong’s Hang Seng Index slipped 0.8 percent to 26,491.1. Mainland Chinese markets remained closed for the Lunar New Year holiday through Feb. 23, limiting broader regional participation.
In Seoul, institutional investors dominated the trade floor on the main bourse, buying a net 1.61 trillion won. Foreign investors sold 742.8 billion won, while retail investors offloaded 987.2 billion won throughout the session.
Large-cap semiconductors led the advance.
SK hynix surged 6.2 percent to 949,000 won, approaching the 950,000-won level, after the company disclosed that BlackRock had acquired 100,808 shares through market transactions as of Jan. 10.
BlackRock’s combined holdings now total 5 percent, marking the first time it has held a stake of 5 percent or more since May 9, 2018, nearly eight years ago.
Samsung Electronics edged up 0.1 percent to 190,100 won, holding above the 190,000 level after recently setting record highs. Despite mild profit-taking, the stock maintained technical strength.
Industrial and defense names also outperformed.
Doosan Enerbility gained 5.2 percent to 103,500 won after announcing a 320 billion won turbine supply contract linked to the Czech Dukovany nuclear project. Hanwha Aerospace jumped 8.1 percent to 1,242,000 won amid heightened geopolitical tensions in the Middle East, boosting defense-sector sentiment.
The tech-heavy KOSDAQ slipped 0.6 percent to close at 1,154.0.
Institutional investors bought a modest 3.4 billion won, while retail investors added 318.6 billion won.
Foreign investors, however, sold 274.5 billion won, weighing on overall momentum despite selective buying in growth names.
The Korean won strengthened to 1,446.5 per dollar, up 4.5 won, or 0.3 percent, from the previous session.
Investors are nervously watching the nonstop KOSPI rally, with investment banks scurrying to raise their next targets toward 7,000.
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