The KOSPI index closed higher on May 29, reclaiming the 2,700 level for the first time in ten months.
On this day, the KOSPI finished trading at 2,720.64, up 50.49 points (1.89%) from the previous session. The index opened at 2,691.06, up 20.91 points (0.78%), and maintained its upward momentum throughout the day. Foreign investors and institutions recorded net purchases of KRW 295.3 billion and KRW 684.9 billion, respectively. Meanwhile, individual investors posted net sales of KRW 997.5 billion.
The status board in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, displays the KOSPI and the KRW/USD exchange rate. Photo by Jo Yongjun
Among large-cap stocks, HD Korea Shipbuilding & Offshore Engineering (7.25%), Doosan Enerbility (6.03%), Kia (4.72%), Hyundai Mobis (3.54%), Hana Financial Group (3.29%), Hanwha Aerospace (3.00%), Hyundai Motor (2.74%), Samsung C&T (2.18%), Hanwha Ocean (2.09%), HD Hyundai Heavy Industries (2.01%), SK Hynix (1.92%), Celltrion (1.73%), KB Financial Group (1.68%), and Shinhan Financial Group (1.59%) all posted gains. In contrast, LG Energy Solution (-0.35%) and Samsung Biologics (-0.19%) saw slight declines.
By industry, securities (11.24%), construction (4.57%), finance (4.32%), machinery and equipment (3.29%), transportation equipment and parts (2.96%), and insurance (2.88%) sectors showed strong performances. Rising expectations for "stock market stimulus pledges" by presidential candidates led to broad gains in securities and financial holding companies. There was also steady buying across leading sectors such as semiconductors, shipbuilding, defense, and nuclear power.
The KOSDAQ index closed at 736.29, up 7.50 points (1.03%) from the previous session, marking its fourth consecutive day of gains. The index opened at 733.22, up 4.43 points (0.61%). While foreign investors and individuals sold KRW 2 billion and KRW 28 billion worth of shares, respectively, institutions alone bought KRW 46 billion.
Among the top KOSDAQ market cap stocks, SM (7.43%), EcoPro (5.26%), Silicontwo (5.24%), Voronoi (1.90%), Leeno Industrial (1.74%), Pearl Abyss (1.73%), PharmaResearch (1.61%), HLB (1.48%), JYP Ent. (1.47%), Celltrion Pharm (1.36%), EcoPro BM (1.35%), and Rainbow Robotics (0.94%) rose. On the other hand, Abl Bio (-2.38%), Samchundang Pharm (-1.47%), and Classys (-1.03%) declined.
Kim Ji-won, a researcher at KB Securities, stated, "Investor sentiment improved due to strong earnings from Nvidia, the leading U.S. artificial intelligence (AI) company, and a U.S. court's intervention in the Trump administration's tariff policy." She added, "In Korea, the start of early voting for the presidential election and the reaffirmation of candidates' commitment to boosting the stock market also supported the rise in share prices."
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