KOSPI Surpasses 3,100 for the First Time in 3 Years and 9 Months
KOSDAQ Breaks Above 800 for the First Time in 11 Months
The KOSPI index surpassed the 3,100 mark during trading following news that Israel and Iran had agreed to a ceasefire. This is the first time in three years and nine months that the KOSPI has crossed the 3,100 level during intraday trading.
On June 24, the KOSPI closed at 3,103.64, up 89.17 points (2.96%) from the previous trading day. The KOSPI opened at 3,061.14, up 1.55%, and continued to climb, breaking through the 3,100 mark around 12:20 p.m. This is the first time the KOSPI has exceeded 3,100 during trading since September 28, 2021.
On the 24th, when the KOSDAQ index surpassed the 800 mark for the first time in about 11 months, dealers were working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. 2025.6.24. Photo by Kang Jinhyung
This surge appears to be driven by investor optimism that the war between Israel and Iran, which began on June 12, will come to an end. On June 23 (local time), U.S. President Donald Trump announced via social media that "Israel and Iran have agreed to a complete and comprehensive ceasefire."
Looking at major stocks, competition among the top five companies by market capitalization intensified as leadership shifted to sectors such as artificial intelligence (AI) and nuclear power following the inauguration of the new administration.
Naver closed at 290,500 won, up 0.17% from the previous trading day. The previous day, it had surged by more than 7%. Naver's share price, which traded at 186,500 won at the beginning of this month, climbed to the 290,000-won range in less than a month. Its market capitalization also rose to 45.9467 trillion won, moving up to fifth place. The sharp rise was driven by the Lee Jaemyung administration's strong support for the AI industry.
Doosan Enerbility also posted a remarkable rally. Since the beginning of this year, Doosan Enerbility's share price has soared by about 280%. As the share price surged, its market capitalization also expanded, reaching 44.1347 trillion won as of this day. As a result, Doosan Enerbility entered the top 10 by market capitalization on June 16. Within just one week, it surpassed Hyundai Motor, KB Financial Group, and HD Hyundai Heavy Industries to become the sixth-largest company by market capitalization.
President Lee Jaemyung's remarks during his candidacy that he would continue to pursue nuclear power generation projects to meet the massive electricity demand required for AI industry development are also seen as having an impact.
Most other large-cap stocks also posted strong gains. Samsung Electronics rose 4.31% to 60,500 won, and SK Hynix climbed 7.32% to 278,500 won. Other notable gainers included KB Financial Group (4.37%), HD Hyundai Heavy Industries (6.92%), Kakao (4.41%), HD Korea Shipbuilding & Offshore Engineering (4.39%), and SK Square (10.57%). Among the top market cap stocks, only Hanwha Aerospace, a defense company, declined, falling 2.61%.
The KOSDAQ index closed at 800.93, up 16.14 points (2.06%) from the previous session. This is the first time in about 11 months since August 1 last year (813.53) that the KOSDAQ closed above 800.
In the KOSDAQ market, secondary battery stocks played a key role. Ecopro and Ecopro BM shares rose by 14.12% (6,050 won) and 6.05% (6,000 won), respectively, in a single day. This is believed to be due to the launch of Tesla's robotaxi (autonomous unmanned taxi) service in the United States after 10 years of development.
Tensions from the Middle East eased, leading to a sharp drop in the exchange rate. In the Seoul foreign exchange market, the dollar-won exchange rate ended weekly trading at 1,360.20 won, down 24.10 won.
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