South Korea’s Kospi broke above the 6,400 mark on expectations of improving semiconductor conditions and continued foreign inflows, setting a fresh record just one day after reaching an all-time high for the first time in about two months.
The benchmark closed April 22 at 6,417.93, up 29.46 points, or 0.46%, from the previous session, according to the Korea Exchange. The index opened lower at 6,387.57, quickly turned higher and rose as far as 6,400.11 before finishing with gains after choppy trading.
Retail investors bought a net 1.7821 trillion won, while foreigners and institutions sold a net 750.7 billion won and 923.8 billion won, respectively, as they took profits.
Large-cap shares were mixed. SK hynix rose 0.25%, LG Energy Solution gained 1.26%, Doosan Enerbility added 0.09% and Hanwha Aerospace climbed 1.80%. Samsung Electronics fell 0.46%, Hyundai Motor slipped 0.92% and Samsung Biologics dropped 1.39%.
By sector, moves were also mixed. Electronics rose 0.27%, transportation equipment and parts jumped 2.71%, chemicals gained 1.56%, machinery and equipment added 0.56%, IT services rose 0.66%, metals climbed 3.00% and distribution gained 0.27%. Financials fell 0.32%, pharmaceuticals dropped 0.95%, insurance slid 1.76% and brokerages fell 0.21%.
The Kosdaq also ended higher. It opened down 2.20 points, or 0.19%, at 1,176.83, then rebounded to close up 2.09 points, or 0.18%, at 1,181.12.
On the Kosdaq, individuals and foreigners were net buyers of 405.4 billion won and 97.6 billion won, while institutions sold a net 374.3 billion won.
Most Kosdaq heavyweights fell, with the exceptions of EcoPro, up 0.06%, and Lino Industrial, up 1.43%. EcoPro BM fell 1.13%, Alteogen dropped 2.44%, Rainbow Robotics slipped 0.67%, Samchundang Pharm plunged 15.88%, Kolon TissueGene fell 2.16%, ABL Bio dropped 3.66%, HLB fell 2.72% and LigaChem Bio slid 2.89%.
Analysts said the market’s downside has held up despite external uncertainties.
Lee Kyung-min, a researcher at Daishin Securities, said the Kospi stayed in a narrow range despite uncertainty over Iran talks and fading expectations for rate cuts. “External factors are stirring risk-off sentiment, but earnings and order momentum are supporting the market’s lower bound,” Lee said, adding that early losses widened before the index rebounded and moved sideways near flat levels.
Overnight, U.S. stocks fell as uncertainty grew over a second round of talks between the United States and Iran. The Dow Jones Industrial Average closed down 0.59%, while the S&P 500 and Nasdaq fell 0.63% and 0.59%, respectively.
Microsoft rose 1.46% and Amazon gained 0.66%, while Nvidia fell 1.08% and Tesla dropped 1.55%, leaving major tech shares mixed. The Philadelphia Semiconductor Index rose 0.50%, as skepticism spread over the resumption of U.S.-Iran negotiations, weakening expectations for an end to the conflict.
* This article has been translated by AI.
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