South Korea’s benchmark KOSPI index extended its winning streak to five consecutive sessions on June 10, closing above the 2,870 level for the first time in nearly 11 months.
According to the Korea Exchange, the KOSPI ended the day at 2,871.85, up 16.08 points, or 0.56%, from the previous session. This marked the highest closing level since July 11, 2024, when the index finished at 2,891.35. The index opened at 2,872.62, up 16.85 points, or 0.59%, and climbed as high as 2,885.67 during intraday trading. However, late-session profit-taking by retail investors trimmed some of the gains. The session high was just shy of the 2024 peak of 2,896.43 by around 10 points.
Foreign investors continued their strong buying streak for a fifth session, purchasing a net 632.2 billion won worth of shares on the main board. Institutions also net bought 13.3 billion won, while retail investors offloaded 625.8 billion won.
In the broader market, sectors that had surged on policy optimism surrounding the inauguration of President Lee Jae-myung experienced some profit-taking, while defense and entertainment stocks led the day’s gains.
Among large-cap stocks, Samsung Electronics (005930) fell 1.00% to close at 59,200 won, ending its seven-day rally. SK Hynix (000660) rose 0.66% to 230,500 won.
Defense stocks saw strong gains on expectations of additional K2 tank orders. Hyundai Rotem (064350) surged 9.71%, followed by Hanwha Systems (272210) up 20.09%, Poongsan (103140) up 16.67%, Hanwha Aerospace (012450) up 6.36%, Korea Aerospace Industries (047810) up 6.02%, Hanwha Ocean (042660) up 4.37%, HD Korea Shipbuilding & Offshore Engineering (009540) up 4.35%, and LIG Nex1 (079550) up 4.20%.
Shares of ContentreeJoongAng (036420) and SBS (034120) gained 10.40% and 9.98%, respectively, on hopes for stronger Korea-China cultural exchange following news of a phone conversation between President Lee and Chinese President Xi Jinping.
Conversely, insurance and securities stocks retreated on profit-taking after recent rallies tied to “value-up” reform expectations. Samsung Life Insurance (032830) fell 4.60%, Samsung Fire & Marine Insurance (000810) declined 2.36%, Shin Young Securities (001720) dropped 5.73%, and SangSangIn Securities (001290) lost 2.75%.
Retail stocks plunged after reports that the ruling Democratic Party is pushing to reinstate mandatory closures of large discount stores on public holidays. Lotte Shopping (023530) fell 9.03%, E-Mart (139480) declined 8.28%, and Hyundai Department Store (069960) dropped 3.74%.
Power utility stocks also tumbled on expectations that electricity and public utility rates may be frozen or cut in the third quarter. Korea Electric Power Corp. (015760) plummeted 10.15%, Korea Gas Corp. (036460) edged down 0.04%, and Korea District Heating Corp. (071320) sank 8.62%.
By sector, gains were led by construction (+2.98%), transportation equipment (+2.45%), paper & forest products (+2.20%), machinery (+2.16%), metals (+1.86%), and media & entertainment (+1.80%). On the other hand, losses were seen in utilities (-0.34%), insurance (-2.67%), retail (-0.72%), and securities (-0.36%).
Meanwhile, the KOSDAQ index rose 6.99 points, or 0.91%, to close at 771.20—its highest level since February 26. The index opened at 767.91, up 3.70 points or 0.48%, and extended gains throughout the session.
Foreign and individual investors net bought 5.2 billion won and 13.7 billion won, respectively, while institutions sold a net 2.6 billion won.
Hanmi Pharmaceutical (128940) surged 8.21% ahead of its presentation at the upcoming American Diabetes Association (ADA) conference. Other biotech stocks also gained, including Peptron (087010) up 19.79%, PharmaResearch (214450) up 3.79%, Hugel (145020) up 5.52%, LigaChem Biosciences (141080) up 3.11%, Alteogen (196170) up 1.42%, and HLB (028300) up 2.14%.
Entertainment names such as SM Entertainment (041510) and JYP Entertainment (035900) rose 1.95% and 1.75%, respectively.
Decliners included Enchem (348370) up 3.98%, while Jusung Engineering (036930) dropped 4.92%, Lunit (328130) fell 3.47%, and Techwing (089030) lost 3.27%.
Total trading volume amounted to 13.96 trillion won in the KOSPI and 7.06 trillion won in the KOSDAQ.
South Korea’s benchmark KOSPI index extended its winning streak to five consecutive sessions on June 10, closing above the 2,870 level for the first time in nearly 11 months.
According to the Korea Exchange, the KOSPI ended the day at 2,871.85, up 16.08 points, or 0.56%, from the previous session. This marked the highest closing level since July 11, 2024, when the index finished at 2,891.35. The index opened at 2,872.62, up 16.85 points, or 0.59%, and climbed as high as 2,885.67 during intraday trading. However, late-session profit-taking by retail investors trimmed some of the gains. The session high was just shy of the 2024 peak of 2,896.43 by around 10 points.
Foreign investors continued their strong buying streak for a fifth session, purchasing a net 632.2 billion won worth of shares on the main board. Institutions also net bought 13.3 billion won, while retail investors offloaded 625.8 billion won.
In the broader market, sectors that had surged on policy optimism surrounding the inauguration of President Lee Jae-myung experienced some profit-taking, while defense and entertainment stocks led the day’s gains.
Among large-cap stocks, Samsung Electronics (005930) fell 1.00% to close at 59,200 won, ending its seven-day rally. SK Hynix (000660) rose 0.66% to 230,500 won.
Defense stocks saw strong gains on expectations of additional K2 tank orders. Hyundai Rotem (064350) surged 9.71%, followed by Hanwha Systems (272210) up 20.09%, Poongsan (103140) up 16.67%, Hanwha Aerospace (012450) up 6.36%, Korea Aerospace Industries (047810) up 6.02%, Hanwha Ocean (042660) up 4.37%, HD Korea Shipbuilding & Offshore Engineering (009540) up 4.35%, and LIG Nex1 (079550) up 4.20%.
Shares of ContentreeJoongAng (036420) and SBS (034120) gained 10.40% and 9.98%, respectively, on hopes for stronger Korea-China cultural exchange following news of a phone conversation between President Lee and Chinese President Xi Jinping.
Conversely, insurance and securities stocks retreated on profit-taking after recent rallies tied to “value-up” reform expectations. Samsung Life Insurance (032830) fell 4.60%, Samsung Fire & Marine Insurance (000810) declined 2.36%, Shin Young Securities (001720) dropped 5.73%, and SangSangIn Securities (001290) lost 2.75%.
Retail stocks plunged after reports that the ruling Democratic Party is pushing to reinstate mandatory closures of large discount stores on public holidays. Lotte Shopping (023530) fell 9.03%, E-Mart (139480) declined 8.28%, and Hyundai Department Store (069960) dropped 3.74%.
Power utility stocks also tumbled on expectations that electricity and public utility rates may be frozen or cut in the third quarter. Korea Electric Power Corp. (015760) plummeted 10.15%, Korea Gas Corp. (036460) edged down 0.04%, and Korea District Heating Corp. (071320) sank 8.62%.
By sector, gains were led by construction (+2.98%), transportation equipment (+2.45%), paper & forest products (+2.20%), machinery (+2.16%), metals (+1.86%), and media & entertainment (+1.80%). On the other hand, losses were seen in utilities (-0.34%), insurance (-2.67%), retail (-0.72%), and securities (-0.36%).
Meanwhile, the KOSDAQ index rose 6.99 points, or 0.91%, to close at 771.20—its highest level since February 26. The index opened at 767.91, up 3.70 points or 0.48%, and extended gains throughout the session.
Foreign and individual investors net bought 5.2 billion won and 13.7 billion won, respectively, while institutions sold a net 2.6 billion won.
Hanmi Pharmaceutical (128940) surged 8.21% ahead of its presentation at the upcoming American Diabetes Association (ADA) conference. Other biotech stocks also gained, including Peptron (087010) up 19.79%, PharmaResearch (214450) up 3.79%, Hugel (145020) up 5.52%, LigaChem Biosciences (141080) up 3.11%, Alteogen (196170) up 1.42%, and HLB (028300) up 2.14%.
Entertainment names such as SM Entertainment (041510) and JYP Entertainment (035900) rose 1.95% and 1.75%, respectively.
Decliners included Enchem (348370) up 3.98%, while Jusung Engineering (036930) dropped 4.92%, Lunit (328130) fell 3.47%, and Techwing (089030) lost 3.27%.
Total trading volume amounted to 13.96 trillion won in the KOSPI and 7.06 trillion won in the KOSDAQ.