KOSPI Hits Consecutive Record Highs, Nears 3,900 Mark

Approaching the “100,000-won Samsung” Milestone,
Achieving the “500,000-won Hynix” Mark

On October 21, the KOSPI surpassed the 3,890 mark during intraday trading, continuing its record-breaking rally. The surge is being driven by easing U.S.-China trade tensions, strong sales of Apple’s iPhone 17, and smooth progress in Korea-U.S. tariff negotiations.

As of 9:17 a.m. on October 21, the KOSPI was trading at 3,871.12, up 1.48% from the previous trading day. The index opened at 3,851.01, a 0.95% increase from the previous session, and, buoyed by foreign buying, surpassed the 3,890 mark for the first time ever. This set another intraday all-time high, following the previous day’s record.

In the Korea Exchange, foreign investors led the upward momentum by purchasing 66.5 billion won worth of stocks, while individuals and institutions sold 49.6 billion won and 3.5 billion won, respectively.

Samsung Electronics and SK Hynix each posted gains of over 1% and 3%, respectively, driving the index higher. Samsung Electronics rose to as high as 99,600 won in early trading, nearing the “100,000 won Samsung” milestone, while SK Hynix soared to 502,000 won, reaching the “500,000 won Hynix” mark. Shares of Hyundai Motor also hit a record high on expectations of tariff cuts for automobiles, climbing to 262,000 won at one point during the morning session and setting a new 52-week high.

All other KOSPI large-cap stocks also posted gains. LG Energy Solution (up 0.35%), Samsung Biologics (up 0.44%), Doosan Enerbility (up 3.49%), HD Hyundai Heavy Industries (up 5.47%), and Kia (up 3.32%) all showed upward trends.

Lee Sunghoon, a researcher at Kiwoom Securities, explained, “Unlike last month’s semiconductor-driven market, the recent domestic stock market has seen gains across a broad range of sectors, including semiconductors, secondary batteries, automobiles, power equipment, and securities, with both leading and previously overlooked sectors rising.”

Remarks by U.S. President Donald Trump regarding tariff negotiations appear to be boosting investor sentiment. On October 20 (local time), President Trump stated, “I have a very good relationship with Chinese President Xi Jinping, and we are scheduled to meet in Korea in a few weeks. When I leave Korea, we will have a very strong trade agreement. There will be no conflicts.”

The prevailing view in the market is that the KOSPI’s upward momentum will continue as the earnings season gets underway in earnest. Researcher Lee stated, “Although the desire to realize profits is growing, the market is expected to maintain its strong performance, as it did yesterday. As major domestic companies enter the full-fledged earnings season this week, the bullish sentiment is likely to spread to stocks with strong earnings momentum.”