The KOSPI has continued its "honeymoon rally," reaching the 2,800 mark for the first time in about 10 months. Sustained foreign inflows are being cited as the main driver behind the recent gains.
At around 9:54 a.m. on June 5, the KOSPI was trading at 2,800.43, up 29.59 points (1.07%) from the previous day. This is the first time the KOSPI has surpassed the 2,800 level since June 20, 2024, marking a return to this threshold in approximately 10 months.
On this day, foreign investors provided strong support for the index by recording a net purchase of 398.3 billion won in KOSPI stocks. Foreign investors have maintained net buying for three consecutive trading days this month, with net purchases in the main stock market alone reaching around 1 trillion won the previous day. This is the first time this has occurred since August 2024.
Lee Sunghoon, a researcher at Kiwoom Securities, analyzed, "Given the supplementary budget of over 30 trillion won following the launch of the new government, expectations for stock market revitalization policies and amendments to the Commercial Act, and the stabilization of the won-dollar exchange rate, the trend of net foreign buying in the domestic stock market is likely to continue."
Among the top KOSPI stocks by market capitalization, SK Hynix is leading the gains with a 5.29% increase. On news that SK Hynix overtook Samsung Electronics to become the global leader in DRAM market share in the first quarter of this year, SK Hynix recovered the "220,000-won Hynix" level the previous day and touched 230,000 won during the session. In addition, Hanwha Aerospace (4.62%), Kia (3.57%), and Hyundai Motor (3.39%) are also showing strong performances.
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