KOSPI Opens Higher, Sets Another Intraday Record High

KOSDAQ Opens Higher but Turns Negative

The KOSPI started higher on January 13, once again reaching a new all-time high.

As of 9:15 a.m. on this day, the KOSPI index was trading at 4,653.28, up 28.49 points (0.62%) from the previous session.

In the KOSPI market, individual investors and institutions were net buyers, purchasing 103.4 billion won and 93.8 billion won, respectively. Foreign investors were net sellers, offloading 199.2 billion won.

On the morning of the 13th, the KOSPI index and the KRW/USD exchange rate are displayed on the status board in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Yonhap News Agency

The index opened at 4,662.44, up 37.65 points (0.81%) from the previous session, surpassing the previous day's all-time intraday high of 4,652.54.

The KOSPI saw buying momentum in major stocks, including large-cap semiconductor shares.

Samsung Electronics rose more than 1% in early trading, while SK Hynix was up 0.6%.

Among the top stocks by market capitalization, Samsung Biologics (1.99%), Hyundai Motor (3.41%), HD Hyundai Heavy Industries (1.82%), Celltrion (2.10%), and Hyundai Mobis (3.81%) were all strong performers.

On the other hand, Doosan Enerbility (-0.79%) and Shinhan Financial Group (-0.51%) were on the decline.

At the same time, the KOSDAQ index was down 2.28 points (0.24%) at 947.53. The KOSDAQ had opened at 954.75, up 4.94 points (0.52%), but then reversed into negative territory.

While individual investors were net buyers of 129.9 billion won, foreign investors and institutions were net sellers, offloading 106.4 billion won and 24.3 billion won, respectively.

Among the top KOSDAQ stocks by market capitalization, Rainbow Robotics (1.13%), Kolon TissueGene (3.57%), Samchundang Pharm (1.34%), and Wonik IPS (3.82%) were strong. Meanwhile, ABL Bio (-1.94%), HLB (-1.83%), Peptron (-1.18%), PharmaResearch (-1.77%), and D&D Pharmatech (-2.02%) were weak.

Meanwhile, on the previous day, despite news that the Trump administration had launched a criminal investigation into Jerome Powell, Chair of the U.S. Federal Reserve, all three major New York stock indexes closed slightly higher.

Han Ji-young, a researcher at Kiwoom Securities, commented, "This investigation into Chair Powell is not expected to significantly alter the Fed's monetary policy path or disrupt the stock market's direction. Ultimately, the stock market should focus on the U.S. December Consumer Price Index (CPI)."

Han added, "If inflation rises into the 3% range, it would be appropriate to incorporate into the CPI response strategy a scenario of 'diminished expectations for a rate cut within the year, a sharp rise in market interest rates, and temporary downward pressure on the stock market until the Magnificent 7 (M7) fourth-quarter earnings season.'"

Han further explained, "Given the recent combination of 'continued daily volatility expansion and a seven-day consecutive rally,' short-term fatigue has accumulated. In this context, caution over the December CPI and renewed breaches of the 1,460 won level in the KRW/USD exchange rate could trigger profit-taking. This should be kept in mind."