KOSPI Trades Above 3,710 in Morning Session on October 16
Boosted by Hopes for Korea-US Trade Negotiations
The KOSPI index surpassed 3,700 for the first time ever on October 16.
As of 9:31 a.m. on this day, the KOSPI index was trading at 3,710.53, up 53.25 points (1.46%) from the previous day. The index opened at 3,675.82, up 18.54 points (0.51%), and continued to rise, surpassing the 3,700 mark for the first time in history. Foreign investors and institutions recorded net purchases of 171.6 billion won and 14.7 billion won, respectively. Individual investors sold a net 182 billion won.
On the 16th, the KOSPI index and others are displayed on the status board of Hana Bank dealing room in Jung-gu, Seoul. Photo by Yonhap News
Among the top market cap stocks, Hyundai Motor (up 9.17%) and Kia (up 7.90%) showed particularly strong performance due to expectations of a Korea-US tariff agreement. On October 15 (local time), U.S. Treasury Secretary Scott Besant projected that trade negotiations with Korea could be concluded within the next 10 days. Major semiconductor stocks such as SK Hynix (up 1.66%) and Samsung Electronics (up 1.26%) also continued their upward trend.
Other gainers included Hanwha Ocean (up 4.09%), Hyundai Mobis (up 3.49%), Samsung C&T (up 2.67%), LG Energy Solution (up 1.81%), Doosan Enerbility (up 1.45%), Shinhan Financial Group (up 1.27%), Samsung Electronics (up 1.26%), Samsung Life Insurance (up 1.17%), and Celltrion (up 0.93%). On the other hand, KB Financial Group (down 1.21%), HD Korea Shipbuilding & Offshore Engineering (down 0.58%), and SK Square (down 0.41%) declined.
By industry, most sectors rose, including transportation equipment & parts (up 3.46%), transportation & storage (up 3.04%), securities (up 2.67%), electricity & gas (up 2.30%), chemicals (up 2.11%), and distribution (up 2.00%). In contrast, metals (down 1.53%), entertainment & culture (down 0.80%), and real estate (down 0.04%) sectors declined.
At the same time, the KOSDAQ index was at 866.64, up 1.92 points (0.22%) from the previous day. The index opened at 866.82, up 2.10 points (0.24%). Foreign investors and institutions recorded net sales of 149.6 billion won and 7 billion won, respectively, while individual investors purchased a net 162.7 billion won.
Among the top market cap stocks, Samchundang Pharm (up 5.57%), EcoPro BM (up 5.03%), PharmaResearch (up 4.19%), EcoPro (up 3.16%), Silicon Two (up 2.65%), Classys (up 2.03%), and HLB (up 1.56%) rose. In contrast, Voronoi (down 3.28%), ABL Bio (down 2.77%), LIG Chem Bio (down 2.57%), Peptron (down 2.06%), Hugel (down 1.65%), Kolon TissueGene (down 1.58%), Caregen (down 1.44%), HPSP (down 1.38%), Alteogen (down 1.12%), and SM Entertainment (down 1.07%) declined.
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