The First Ever 'KOSPI 3000' Era Opens... Surpasses 3020 Intraday, Gains Over 1%

The KOSPI surpassed the 3,000 mark for the first time in history. On the 6th, the KOSPI index opened at 2,993.34, up 2.77 points (0.09%) from the previous trading day (2,990.57), and broke through the 3,000-point level during the session. This is the first time the KOSPI has exceeded 3,000 points in about 13 years and 5 months since it first crossed 2,000 on July 25, 2007. The photo shows the Hana Bank dealing room in Jung-gu, Seoul on the day (multiple exposure). Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Oh Ju-yeon] The KOSPI surpassed the 3020 mark during trading on the 6th, marking the first time in the history of the domestic stock market that the 'KOSPI 3000' era has begun.

According to the Korea Exchange on that day, as of 9:07 a.m., the KOSPI recorded 3023.81, up 1.11% from the previous trading day. Opening at 2993.34, the KOSPI easily crossed the 3000 mark as if waiting for the moment and even exceeded the 3027 level during trading.

The top market capitalization stocks all showed strong gains.

Samsung Electronics traded at 84,300 KRW, up 0.48% from the previous day. It reached an intraday high of 84,500 KRW, setting a new record high again. SK Hynix also surged more than 3% to 137,000 KRW during trading, and LG Chem and Samsung SDI reached new highs at 909,000 KRW and 697,000 KRW respectively.

Hyundai Motor rose 0.48% to 210,500 KRW, and Kakao increased 3.69% to 407,500 KRW. Other top market cap stocks such as Hyundai Mobis, Samsung C&T, and Kia Motors also rose.

Since the first day of the New Year 2021, individual investors have poured 1 trillion KRW into the KOSPI market alone, sustaining buying pressure for three consecutive trading days and driving the index higher.

At this time, individuals net purchased 263.3 billion KRW worth of shares in the KOSPI market, while foreigners and institutions net sold 231.8 billion KRW and 42.1 billion KRW respectively.

The KOSDAQ index recorded 987.02, up 0.12% from the previous trading day.

Among the top market cap stocks, Celltrion Healthcare (0.13%) and CJ ENM (2.24%) rose, while most other stocks were weak. Celltrion Pharm (-0.23%), HL Biopharma (-7.19%), Seegene (-0.54%), and Alteogen (-0.30%) declined compared to the previous day.

By investor type, individuals net purchased 96.6 billion KRW, while foreigners and institutions net sold 56.1 billion KRW and 36.8 billion KRW respectively.

Seo Sang-young, a researcher at Kiwoom Securities, said, "As vote counting is underway during trading in the Georgia state election, if the Democrats win as the market expects, it is anticipated that the rise will expand centered on value stocks." He also noted, "The weak dollar and rising international oil prices are expected to have a positive impact on foreign investor demand, who had recently been selling." However, he predicted that concerns over high valuations may continue, so rather than expanding the rise, there will likely be a process of absorbing selling pressure after surpassing the 3000-point mark.