The KOSPI index surpassed the 2,900 mark during intraday trading. This is the first time it has exceeded 2,900 in three years and five months, since January 18, 2022.
As of 10:15 a.m. on June 11, the KOSPI was trading at 2,890.36, up 18.51 points (0.64%) from the previous day. Continuing its six-day winning streak and hitting new highs each day, the KOSPI climbed as high as 2,904.21 during the session, breaking through the 2,900 level.
This is believed to reflect optimism over US-China trade negotiations and strong earnings from TSMC, which contributed to gains in the US stock market the previous day. On the previous day, the Dow Jones Industrial Average rose by 0.25%, the S&P 500 by 0.55%, and the Nasdaq by 0.63%. Taiwan's semiconductor company TSMC announced that its sales in the previous month had surged by 40%, leading to a 2.64% increase in its stock price.
The rally in semiconductor stocks, which are the market leaders, is driving the index higher. On this day, Samsung Electronics was up by more than 1%, while SK hynix rose by over 4%. SK hynix has been on a six-day winning streak. Kim Jiwon, a researcher at KB Securities, stated, "The strength in semiconductor-related stocks could continue, driven by optimism over US-China negotiations and robust earnings from TSMC."
Foreign buying is also pushing the index higher. On this day, foreign investors were net buyers of 114.8 billion won in the KOSPI market and 27.3 billion won in the KOSDAQ market. Foreign investors have now been net buyers in both markets for six consecutive days.
Lee Kyungmin, a researcher at Daishin Securities, analyzed, "Since the inauguration of the Lee Jaemyung administration, expectations for amendments to the Commercial Act and the resolution of the Korea Discount (undervaluation of the Korean stock market) are stimulating foreign inflows." He added, "Protection of minority shareholder rights and governance issues in the Korean stock market are key factors demanded by global investors. Based on policy expectations and valuation attractiveness, the improvement in foreign inflows is becoming increasingly evident."
As the KOSPI remains strong, securities firms are also raising their targets. On this day, KB Securities raised its 12-month (through the first half of 2026) KOSPI target to 3,240 points in its report, "KB Equity Strategy: KOSPI Re-rating and Leading Sector Strategy." The report stated, "If tariff threats materialize into actual tariffs, the risk of an economic downturn will increase, and tariff risk uncertainty is expected to persist through the third quarter. However, the Korean stock market is likely to demonstrate relatively strong resilience, supported by a weak dollar, domestic stimulus measures, and capital market reform efforts." It also projected that in the fourth quarter, as the tariff war moves toward a resolution, risk appetite will increase and investment activity will become more robust. In addition, the report pointed out that improved market liquidity from a potential US Federal Reserve rate cut, along with sector-specific benefits and domestic recovery stemming from the easing of China’s Hallyu ban (Hanhanryeong), could further support the continuation of the bull market.
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