KOSPI Surges for Second Day on Eased Middle East Tensions, Nears 3000 Mark

On June 17, the domestic stock market opened strong in early trading. Driven by robust individual buying, the KOSPI moved one step closer to reaching the 3000 mark.

As of 9:30 a.m. on the same day, the KOSPI was trading at 2,981.34, up 34.68 points (1.18%) from the previous day. The index started at 2,959.93, up 13.27 points (0.45%) from the previous session, and continued to gain ground. Following a 1.80% surge the previous day, the market is experiencing a sharp rally for a second consecutive day. While individuals made net purchases totaling 217.3 billion won, foreigners and institutions recorded net sales of 71.5 billion won and 135.1 billion won, respectively.

Most of the large-cap stocks are on the rise. SK Hynix hit an all-time high during the session at 260,000 won. Samsung Electronics (4.02%), Doosan Enerbility (1.68%), NAVER (1.43%), Kia (1.33%), Hyundai Motor (1.24%), Shinhan Financial Group (1.16%), and LG Energy Solution (1.02%) are also showing strength. In contrast, HD Hyundai Heavy Industries (-2.34%) and Hanwha Aerospace (-2.06%) are declining.

In the Seoul foreign exchange market, the won-dollar exchange rate began trading at 1,360.0 won per dollar, down 3.8 won from the previous day.

At the same time, the KOSDAQ was trading at 784.02, up 6.76 points (0.87%). The index started at 780.08, up 2.82 points (0.36%) from the previous session, and continued to climb. Individuals made net purchases of 57.8 billion won, while foreigners and institutions recorded net sales of 40.9 billion won and 12.9 billion won, respectively.

Among the top KOSDAQ stocks by market capitalization, performance was mixed. Samchundang Pharm (4.51%), Leeno Industrial (3.04%), EcoPro BM (1.78%), and EcoPro (1.07%) were on the rise, while PharmaResearch (-4.26%), Peptron (-1.55%), LIG ChemBio (-0.70%), and Classys (-0.50%) were declining.

By industry, non-ferrous metals (4.77%), semiconductors (4.29%), securities (2.64%), electronic equipment (2.51%), handsets (2.49%), and telecommunications equipment (2.41%) were all rising. In contrast, trading companies (-4.14%), other capital goods (-1.64%), energy (-1.01%), transportation (-0.86%), and cosmetics (-0.43%) sectors were declining.