On June 10, the KOSPI continued its upward momentum for a fifth consecutive session buoyed by sustained foreign buying and improving investor sentiment.
As of 11:16 a.m., the benchmark KOSPI index stood at 2,884.07, up 28.30 points or 0.99% from the previous session. The index had opened at 2,872.62, rising 16.85 points or 0.59%, but briefly turned negative following news of delays in key reform legislation, including amendments to the Commercial Act. However, it quickly recovered to resume an upward trajectory.
The intra-day high reached 2,885.18, leaving the index just 14 points shy of its 2023 peak of 2,896.43, recorded on July 11. Market analysts suggest the index may challenge the psychologically significant 2,900 and 3,000 levels in the near term. The last time the KOSPI closed above 2,900 was on January 18, 2022, at 2,902.79.
Foreign investors remained net buyers for a fourth straight session, purchasing 308.8 billion won worth of stocks. In contrast, retail and institutional investors posted net sales of 268.4 billion won and 38 billion won, respectively.
Among major constituents, Samsung Electronics (005930) slipped 1.00%, while SK Hynix (000660) gained 1.31%.
Defense stocks led the gains, with Hyundai Rotem (064350) soaring 9.13% on expectations of a second K2 tank export deal with Poland. Other defense-related names including Poongsan (103140), Hanwha Systems (272210), Hanwha Aerospace (012450), and HD Korea Shipbuilding & Offshore Engineering (009540) advanced 11.67%, 11.45%, 7.27%, and 5.13%, respectively.
Kakao Pay (377300) surged 12.93%, extending gains from the previous session driven by speculation around stablecoin initiatives. KidariStudio (020120) also jumped 12.04% following the government’s announcement to designate the webtoon industry as a strategic national sector.
Conversely, retail stocks tumbled following reports that the ruling party had proposed a bill mandating large supermarkets to close on public holidays. Lotte Shopping (023530) fell 7.82%, Emart (139480) dropped 7.51%, and Hyundai Department Store (069960) declined 4.43%.
Kakao (035720) retreated 2.72%, while Kia (000270) and Hyundai Mobis (012330) edged down 0.21% and 0.72%, respectively, as investors took profits after recent rallies.
By sector, construction gained 4.34%, followed by paper and wood products (2.64%), machinery (2.19%), transportation equipment (2.06%), metals (1.93%), and chemicals (1.93%). Insurance (-0.59%), food and beverages (-0.37%), and utilities (-0.48%) posted losses.
The KOSDAQ index also advanced, rising 4.16 points or 0.54% to 768.37. It had opened at 767.91 and hovered in the 760-point range throughout the morning.
On the KOSDAQ, retail investors were net buyers of 60.5 billion won, while foreign and institutional investors sold 28.6 billion won and 14.5 billion won, respectively.
Entertainment stocks gained broadly on renewed expectations for the easing of China’s ban on Korean pop culture. Studio Dragon (253450) surged 13.59%, CJ ENM (035760) climbed 12.06%, Pan Entertainment (068050) rose 6.98%, SM Entertainment (041510) advanced 3.98%, YG Entertainment (122870) added 2.98%, and JYP Entertainment (035900) was up 1.75%.
Other notable gainers included Peptron (087010), PharmaResearch (214450), Hugel (145020), and Caregen (214370), which gained between 2% and 4%.
On the downside, Classys (214150) fell 5.13%, Voronoi (310210) dropped 2.26%, Silicon Two (257720) slipped 1.93%, and ABL Bio (298380) declined 1.13%.
On June 10, the KOSPI continued its upward momentum for a fifth consecutive session buoyed by sustained foreign buying and improving investor sentiment.
As of 11:16 a.m., the benchmark KOSPI index stood at 2,884.07, up 28.30 points or 0.99% from the previous session. The index had opened at 2,872.62, rising 16.85 points or 0.59%, but briefly turned negative following news of delays in key reform legislation, including amendments to the Commercial Act. However, it quickly recovered to resume an upward trajectory.
The intra-day high reached 2,885.18, leaving the index just 14 points shy of its 2023 peak of 2,896.43, recorded on July 11. Market analysts suggest the index may challenge the psychologically significant 2,900 and 3,000 levels in the near term. The last time the KOSPI closed above 2,900 was on January 18, 2022, at 2,902.79.
Foreign investors remained net buyers for a fourth straight session, purchasing 308.8 billion won worth of stocks. In contrast, retail and institutional investors posted net sales of 268.4 billion won and 38 billion won, respectively.
Among major constituents, Samsung Electronics (005930) slipped 1.00%, while SK Hynix (000660) gained 1.31%.
Defense stocks led the gains, with Hyundai Rotem (064350) soaring 9.13% on expectations of a second K2 tank export deal with Poland. Other defense-related names including Poongsan (103140), Hanwha Systems (272210), Hanwha Aerospace (012450), and HD Korea Shipbuilding & Offshore Engineering (009540) advanced 11.67%, 11.45%, 7.27%, and 5.13%, respectively.
Kakao Pay (377300) surged 12.93%, extending gains from the previous session driven by speculation around stablecoin initiatives. KidariStudio (020120) also jumped 12.04% following the government’s announcement to designate the webtoon industry as a strategic national sector.
Conversely, retail stocks tumbled following reports that the ruling party had proposed a bill mandating large supermarkets to close on public holidays. Lotte Shopping (023530) fell 7.82%, Emart (139480) dropped 7.51%, and Hyundai Department Store (069960) declined 4.43%.
Kakao (035720) retreated 2.72%, while Kia (000270) and Hyundai Mobis (012330) edged down 0.21% and 0.72%, respectively, as investors took profits after recent rallies.
By sector, construction gained 4.34%, followed by paper and wood products (2.64%), machinery (2.19%), transportation equipment (2.06%), metals (1.93%), and chemicals (1.93%). Insurance (-0.59%), food and beverages (-0.37%), and utilities (-0.48%) posted losses.
The KOSDAQ index also advanced, rising 4.16 points or 0.54% to 768.37. It had opened at 767.91 and hovered in the 760-point range throughout the morning.
On the KOSDAQ, retail investors were net buyers of 60.5 billion won, while foreign and institutional investors sold 28.6 billion won and 14.5 billion won, respectively.
Entertainment stocks gained broadly on renewed expectations for the easing of China’s ban on Korean pop culture. Studio Dragon (253450) surged 13.59%, CJ ENM (035760) climbed 12.06%, Pan Entertainment (068050) rose 6.98%, SM Entertainment (041510) advanced 3.98%, YG Entertainment (122870) added 2.98%, and JYP Entertainment (035900) was up 1.75%.
Other notable gainers included Peptron (087010), PharmaResearch (214450), Hugel (145020), and Caregen (214370), which gained between 2% and 4%.
On the downside, Classys (214150) fell 5.13%, Voronoi (310210) dropped 2.26%, Silicon Two (257720) slipped 1.93%, and ABL Bio (298380) declined 1.13%.