KOSPI Hits Intraday Record High Again

On the 24th, when the KOSPI index reached an intraday all-time high, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. On that day, the KOSPI opened at 2,616.28, up 13.69 points (0.53%) from the previous trading day, showing a strong upward trend. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji-hwan Park] On the 24th, the KOSPI not only set a record high closing price the previous day but also broke the intraday record high.

According to the Korea Exchange on that day, as of 10:15 AM, the KOSPI index rose 18.76 points (0.72%) from the previous trading day to 2621.35. At one point, the KOSPI climbed to 2627.58, surpassing the intraday record high of 2607.10 points set on January 29, 2018, for the first time in about 2 years and 10 months. The KOSPI had already set a new all-time high closing price at 2602.59 the previous trading day.

This index rise is thanks to the buying spree of foreign investors. Foreigners are making large net purchases worth 219.4 billion KRW. Individuals also bought stocks worth 169.4 billion KRW. On the other hand, institutions sold a net 385.1 billion KRW.

Among the top market capitalization stocks, Samsung Electronics (1.78%) and LG Chem (2.81%) rose. Samsung Biologics (-1.12%) and LG Household & Health Care (-1.09%) declined.

The KOSDAQ index showed a slight decline that day. At the same time, it recorded 870.22, down 3.07 points (0.35%). While individuals made net purchases of 87.5 billion KRW, foreigners and institutions made net sales of 11.1 billion KRW and 60.2 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (0.10%) and Kakao Games (0.31%) showed slight gains.