KOSPI surpassed the 3,500 mark for the first time in history. The news that Samsung Electronics and SK Hynix, the top two companies by market capitalization, will participate in the artificial intelligence (AI) infrastructure project "Stargate Project" alongside OpenAI served as a positive catalyst, driving the overall stock market upward.
On October 2, the KOSPI index closed at 3,549.21, up 93.38 points (2.70%) from the previous trading day. This is the first time KOSPI has surpassed the 3,500 level. The previous all-time high closing was 3,486.19 on September 23, and the previous intraday high was 3,497.95 on September 24.
On the afternoon of the 2nd, KOSPI surpassed the 3,500 mark for the first time in history, closing at an all-time high of 3,549.21. Dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Yonhap News.
Foreign investors and institutional investors recorded net purchases of 2.9599 trillion won and 134.1 billion won, respectively. Individual investors, on the other hand, were net sellers, offloading 3.0891 trillion won in shares.
Most of the major stocks by market capitalization saw gains. Samsung Electronics closed at 89,000 won, up 3.49% from the previous session, while SK Hynix ended at 395,500 won, up 9.86%.
LG Energy Solution surged by 14.82%, as investor sentiment was boosted by the announcement that the company would normalize its U.S. plant operations, following discussions in the "Visa" working group between the South Korean and U.S. governments the previous day.
In addition, Samsung Biologics (0.40%), Hyundai Motor Company (2.09%), KB Financial Group (0.43%), and Doosan Enerbility (0.31%) also rose. In contrast, Hanwha Aerospace declined by 0.18%.
That afternoon, President Lee Jaemyung mentioned during a senior aides meeting at the presidential office in Yongsan that KOSPI had surpassed the 3,500 mark for the first time intraday, stating, "This trend itself will not change easily."
President Lee said, "The people are regaining hope and passion, and are restoring their confidence that they can 'start again' in each field," adding, "The force that is returning abnormal situations to normal is now supporting the economic recovery."
The KOSDAQ index closed at 854.25, up 8.91 points (1.05%) from the previous trading day.
In the KOSDAQ market, foreign and institutional investors recorded net purchases of 66.9 billion won and 12.3 billion won, respectively. Individual investors were net sellers, offloading 62.6 billion won in shares.
Most of the top stocks by market capitalization rose. Alteogen (2.95%), Ecopro BM (3.29%), Peptron (0.50%), Ecopro (0.32%), and Ligachem Bio (2.77%) all gained. Of the leading stocks, only PharmaResearch declined, falling 3%.
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