On October 2, the KOSPI closed above the 3,500 mark for the first time lifted by record foreign buying on the eve of the Chuseok holiday. Shares of Samsung Electronics (005930) and SK hynix (000660) surged, driving the index to new all-time highs.
The KOSPI ended at 3,549.21, up 93.38 points or 2.70%. After opening 69.65 points higher at 3,525.48, the KOSPI quickly surpassed both its previous closing record of 3,486.19 set on September 23 and the intraday peak of 3,497.95 marked on September 24. At one point, the index climbed as high as 3,565.96.
As of 3:30 p.m., the won stood at 1,400.0 against the dollar, down 3.2 won from the previous day.
On the main bourse, foreigners net bought 3.14 trillion won worth of equities, offsetting net sales of 3.07 trillion won by retail investors and 668 billion won by institutions. In the KOSPI 200 futures market, foreigners and institutions net sold 204.9 billion won and 354.1 billion won, respectively, while individuals purchased 429.6 billion won.
Overnight, Wall Street extended its winning streak to four sessions. On October 1 (U.S. Eastern time), the Dow Jones Industrial Average rose 43.21 points, or 0.09%, to 46,441.10. The S&P 500 gained 22.74 points, or 0.34%, to 6,711.20, and the Nasdaq Composite added 95.15 points, or 0.42%, to 22,755.16. Both the S&P 500 and the Dow closed at record highs, with the S&P 500 also hitting an all-time intraday peak.
Despite the U.S. federal government entering a shutdown, optimism that the halt would be temporary, combined with expectations of tariff exemptions on pharmaceuticals, buoyed investor sentiment. Among mega-cap U.S. tech stocks, all but Meta gained. Oracle rose 2.76%, reclaiming a $800 billion market capitalization, while Intel jumped more than 7%.
Korean chipmakers mirrored the global rally, soaring at the open. Investor sentiment was further lifted after President Lee Jae-myung met OpenAI CEO Sam Altman, Samsung Electronics Chairman Jay Y. Lee, and SK Group Chairman Chey Tae-won, announcing a new strategic partnership under OpenAI’s “Stargate Initiative.”
Samsung Electronics reached 90,300 won intraday, while SK hynix hit an unprecedented 404,500 won. At the close, Samsung Electronics finished 3.49% higher at 89,000 won, and SK hynix jumped 9.86% to 395,500 won.
Among other heavyweights, LG Energy Solution (373220) surged 14.82%, Samsung Biologics (207940) gained 0.40%, and Hyundai Motor (005380) advanced 2.09%, while Hanwha Aerospace (012450) slipped 0.18%.
By sector, electrical and electronics (5.73%), medical precision (2.22%), distribution (2.26%), and securities (2.60%) advanced, while food and beverages (-1.08%), construction (-0.53%), and metals (-0.29%) retreated.
Lee Jae-won, analyst at Shinhan Investment & Securities, said, “The KOSPI was propelled to record highs as foreigners poured into the market, and the explosive rally of the two titans, Samsung Electronics and SK hynix, overwhelmed risk-averse sentiment ahead of the long holiday.”
The KOSDAQ index closed 8.91 points, or 1.05%, higher at 854.25, after opening up 8.06 points at 853.40. Foreigners and institutions net bought 67.8 billion won and 4.6 billion won, respectively, while individuals sold 55.9 billion won.
On the KOSDAQ, Alteogen (196170) gained 2.95%, EcoPro BM (247540) rose 3.29%, Peptidream (339950) added 0.50%, and EcoPro (086520) advanced 0.32%, while PharmaResearch (214450) fell 3.00%.
Total turnover amounted to 19.23 trillion won on the main board and 7.18 trillion won on the KOSDAQ.
On October 2, the KOSPI closed above the 3,500 mark for the first time lifted by record foreign buying on the eve of the Chuseok holiday. Shares of Samsung Electronics (005930) and SK hynix (000660) surged, driving the index to new all-time highs.
The KOSPI ended at 3,549.21, up 93.38 points or 2.70%. After opening 69.65 points higher at 3,525.48, the KOSPI quickly surpassed both its previous closing record of 3,486.19 set on September 23 and the intraday peak of 3,497.95 marked on September 24. At one point, the index climbed as high as 3,565.96.
As of 3:30 p.m., the won stood at 1,400.0 against the dollar, down 3.2 won from the previous day.
On the main bourse, foreigners net bought 3.14 trillion won worth of equities, offsetting net sales of 3.07 trillion won by retail investors and 668 billion won by institutions. In the KOSPI 200 futures market, foreigners and institutions net sold 204.9 billion won and 354.1 billion won, respectively, while individuals purchased 429.6 billion won.
Overnight, Wall Street extended its winning streak to four sessions. On October 1 (U.S. Eastern time), the Dow Jones Industrial Average rose 43.21 points, or 0.09%, to 46,441.10. The S&P 500 gained 22.74 points, or 0.34%, to 6,711.20, and the Nasdaq Composite added 95.15 points, or 0.42%, to 22,755.16. Both the S&P 500 and the Dow closed at record highs, with the S&P 500 also hitting an all-time intraday peak.
Despite the U.S. federal government entering a shutdown, optimism that the halt would be temporary, combined with expectations of tariff exemptions on pharmaceuticals, buoyed investor sentiment. Among mega-cap U.S. tech stocks, all but Meta gained. Oracle rose 2.76%, reclaiming a $800 billion market capitalization, while Intel jumped more than 7%.
Korean chipmakers mirrored the global rally, soaring at the open. Investor sentiment was further lifted after President Lee Jae-myung met OpenAI CEO Sam Altman, Samsung Electronics Chairman Jay Y. Lee, and SK Group Chairman Chey Tae-won, announcing a new strategic partnership under OpenAI’s “Stargate Initiative.”
Samsung Electronics reached 90,300 won intraday, while SK hynix hit an unprecedented 404,500 won. At the close, Samsung Electronics finished 3.49% higher at 89,000 won, and SK hynix jumped 9.86% to 395,500 won.
Among other heavyweights, LG Energy Solution (373220) surged 14.82%, Samsung Biologics (207940) gained 0.40%, and Hyundai Motor (005380) advanced 2.09%, while Hanwha Aerospace (012450) slipped 0.18%.
By sector, electrical and electronics (5.73%), medical precision (2.22%), distribution (2.26%), and securities (2.60%) advanced, while food and beverages (-1.08%), construction (-0.53%), and metals (-0.29%) retreated.
Lee Jae-won, analyst at Shinhan Investment & Securities, said, “The KOSPI was propelled to record highs as foreigners poured into the market, and the explosive rally of the two titans, Samsung Electronics and SK hynix, overwhelmed risk-averse sentiment ahead of the long holiday.”
The KOSDAQ index closed 8.91 points, or 1.05%, higher at 854.25, after opening up 8.06 points at 853.40. Foreigners and institutions net bought 67.8 billion won and 4.6 billion won, respectively, while individuals sold 55.9 billion won.
On the KOSDAQ, Alteogen (196170) gained 2.95%, EcoPro BM (247540) rose 3.29%, Peptidream (339950) added 0.50%, and EcoPro (086520) advanced 0.32%, while PharmaResearch (214450) fell 3.00%.
Total turnover amounted to 19.23 trillion won on the main board and 7.18 trillion won on the KOSDAQ.