SEOUL, April 16 (AJP) -Korean stocks extended gains Thursday, with the benchmark KOSPI hovering near a record close on signs of de-escalating Gulf tensions and renewed institutional buying.
The KOSPI rose 2.2 percent to close at 6,226.10, a tad below last record finish of 6,307.27 on Feb. 26.
Institutions led the advance, purchasing 1.10 trillion won($746.7 million), while foreign investors added 464.4 billion won. Retail investors sold 1.81 trillion won, locking in gains after recent rallies.
Large-cap stocks broadly advanced, led by semiconductors and autos. Samsung Electronics rose 3.1 percent to 217,500 won, supported by renewed foreign buying. SK hynix gained 1.7 percent to 1,155,000 won despite some profit-taking following recent gains. Hyundai Motor jumped 5.1 percent and Kia rose 4.2 percent, extending momentum in auto shares.
The strength in chipmakers reflects continued confidence in the memory cycle, as tight inventories and expectations of sharp price increases in DRAM and NAND reinforce earnings visibility. Supply constraints in high bandwidth memory (HBM), driven by surging demand from AI infrastructure, have further strengthened pricing power across the broader semiconductor sector.
At the same time, diverging foreign flows between Samsung Electronics and SK hynix suggest growing sensitivity to valuation levels, as investors weigh whether current earnings momentum can be sustained beyond the first quarter.
Sector rotation was also evident, with paper and wood products surging 12.2 percent, followed by retail and distribution-related shares, indicating broad-based participation beyond index heavyweights.
The KOSDAQ rose 0.9 percent to close at 1,162.97, after trading between 1,168.77 and 1,156.31.
Retail investors led buying on the secondary board, purchasing 361.0 billion won, while foreign and institutional investors sold 246.0 billion won and 64.5 billion won, respectively, suggesting continued retail-driven risk appetite.
Gains were concentrated in select technology and thematic names.
Komico surged 14.5 percent to 151,000 won, while Philoptics jumped 15.2 percent to 45,950 won. Kona I rose 17.1 percent to 71,100 won, and Interflex advanced 7.7 percent to 13,030 won, highlighting strong momentum in high-beta growth and component plays.
Global markets provided supportive cues. The Nasdaq Composite rose 1.6 percent and the S&P 500 gained 0.8 percent, while Japan’s Nikkei 225 advanced 2.4 percent and Hong Kong’s Hang Seng rose 1.6 percent.
Oil prices remained elevated, with Brent crude holding above $95 per barrel, as markets weighed the possibility of an extended ceasefire between the United States and Iran alongside ongoing supply risks tied to the Strait of Hormuz.
The Korean won strengthened slightly against the dollar, with the currency rising to 1,473.1 per dollar, while the VIX volatility index edged lower, signaling easing near-term risk sentiment.
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