KOSPI Closes at 4,840... "11 Consecutive Days of Gains"

Samsung Electronics Gains Over 3%
"Earnings Estimates Continue to Rise During Reporting Season"

Driven by strong buying from foreign investors and institutions, the KOSPI broke through the 4,800 mark, setting a new all-time high. Having closed higher for 11 consecutive trading days, the KOSPI is now on the verge of tying its longest winning streak ever-13 consecutive sessions set from March 29, 2019.

On January 16, the KOSPI index closed at 4,840.74, up 43.19 points (0.90%) from the previous trading day. The index started the day at 4,820.66, up 23.11 points (0.48%), and continued to gain ground throughout the session. Foreign investors were net buyers of 406.7 billion won, and institutions purchased a net 338.5 billion won. Individual investors, on the other hand, were net sellers of 938.2 billion won.

On the 16th, when the KOSPI closed above the 4800 mark for the first time in history, the KOSPI index and others were displayed on the status board in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Yonhap News

By sector, insurance (3.56%), machinery and equipment (2.08%), electrical and electronics (1.58%), and general services (0.94%) saw gains. In contrast, transportation equipment and parts (-1.41%), chemicals (-0.98%), IT services (-0.92%), transportation and storage (-0.70%), and non-metallics (-0.64%) declined.

Among the top market capitalization stocks, Doosan Enerbility (6.48%), Samsung Life Insurance (5.83%), Samsung Electronics Preferred (4.12%), SK Square (3.96%), Samsung Electronics (3.47%), Korea Electric Power Corporation (1.67%), Samsung C&T (1.40%), SK Hynix (0.93%), and KB Financial Group (0.61%) all rose. Meanwhile, Hyundai Mobis (-4.33%), Hyundai Motor (-2.13%), HD Hyundai Heavy Industries (-1.43%), Hanwha Ocean (-1.28%), Samsung Biologics (-0.92%), Kia (-0.92%), NAVER (-0.81%), and Celltrion (-0.71%) declined.

Lim Jeongeun, a researcher at KB Securities, said, "Investor sentiment for Samsung Electronics was boosted by strong earnings from TSMC, Taiwan's global foundry (semiconductor contract manufacturing) company." She added, "TSMC posted an earnings surprise and announced plans to expand capital expenditures, which once again confirmed the robust demand for AI semiconductors in the market."

The KOSDAQ index closed at 954.59, up 3.43 points (0.36%) from the previous session. Although the KOSDAQ opened at 950.83, down 0.33 points (0.03%), it reversed course and moved higher in the afternoon. Foreign investors were net sellers of 85.8 billion won, while institutions and individual investors were net buyers of 37.9 billion won and 57.2 billion won, respectively.

Among the top KOSDAQ stocks by market capitalization, Alteogen (10.10%), Samchundang Pharm (10.06%), Kolon TissueGene (3.46%), Caregen (3.08%), ABL Bio (2.54%), LegoChem Biosciences (2.33%), and Classys (2.23%) rose. On the other hand, Rainbow Robotics (-5.01%), Robotis (-4.98%), Ecopro BM (-3.19%), Ecopro (-2.22%), Wonik IPS (-1.41%), HLB (-1.31%), and PharmaResearch (-1.18%) fell.

Researcher Lim noted, "Contrary to expectations, the U.S. Supreme Court did not issue a ruling on the legality of 'reciprocal tariffs' on either the 9th or the 14th (local time)." She added, "Despite the record rally, upward revisions to earnings estimates during the reporting season have pushed the 12-month forward price-to-earnings ratio (PER) to 10.3 times, meaning valuation pressure remains relatively low. A positive trend in the stock market is expected to continue for the time being."