KOSPI Closes at Record High of 3160.84, Up 1.49%...Highest Closing Price Ever (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 21st, the KOSPI reached an all-time high closing price, supported by net buying from foreign investors.

On that day, the KOSPI opened at 3,123.27, up 8.72 points (0.28%) from the previous trading day. During the morning session, it maintained the 3,100 level without significant fluctuations. In the afternoon, the gains expanded, closing at 3,160.84, up 1.49%. This surpassed the previous record high set on the 8th, marking a new high in just nine trading days.

The strong index is interpreted as reflecting expectations for economic stimulus measures following the inauguration of U.S. President Joe Biden. Earlier, the U.S. New York stock market also reached all-time highs in both closing and intraday prices. The Dow Jones Industrial Average closed at 31,188.38, up 257.86 points (0.83%) from the previous session. The Standard & Poor's (S&P) 500 index rose 52.94 points (1.39%) to 3,851.85, and the tech-heavy Nasdaq index closed at 13,457.25, up 260.07 points (1.97%).

Seo Sangyoung, a researcher at Kiwoom Securities, said, "The U.S. stock market rose due to expectations of improved earnings, led by a sharp rise in large technology stocks," adding, "The domestic market is also expected to show strength centered on stocks with high earnings expectations."

By investor type, individuals and institutions sold net amounts of 60.7 billion KRW and 149.3 billion KRW, respectively. Conversely, foreign investors bought a net 221.4 billion KRW.

Among the top 10 stocks by market capitalization, all rose except LG Chem (-1.20%). Representative non-face-to-face stocks such as NAVER (4.71%) and Kakao (2.25%) showed strong performance. Additionally, Hyundai Motor (2.12%) and Kia Motors (4.00%) also rose significantly.

The KOSDAQ closed at 981.40, up 0.38% from the previous trading day. Individuals were net buyers of 362.9 billion KRW, while foreign investors and institutions were net sellers of 134.4 billion KRW and 172.8 billion KRW, respectively.

Among the top market cap stocks, all declined except Celltrion Healthcare (1.49%) and Kakao Games (0.65%). In particular, stocks such as Seegene (-3.73%) and Alteogen (-2.85%) showed weakness.