An electronic trading board at Hana Bank headquarters in central Seoul shows the benchmark KOSPI closing at 5,846.09 points, Monday, up 37.56 points, or 0.65 percent, from the previous session. The main index briefly broke 5,900 points for the first time in its history. Yonhap
The benchmark KOSPI surged past 5,900 points during intraday trading, Monday, moving closer to the unprecedented 6,000-point mark just about a month after finishing above 5,000 points for the first time.
The main index got off to a strong start, rising 1.63 percent to open at 5,903.11 points and quickly climbing to 5,931.86 points, following the U.S. Supreme Court’s ruling last week against global tariffs imposed by President Donald Trump.
The index later pared gains and closed at 5,846.09 points.
Retail investors were net buyers of more than 1.08 trillion won ($749.39 million) worth of stocks, while foreign and institutional investors were net sellers of over 1.09 trillion won and 142 billion won, respectively.
Hyundai Motor posted the steepest gain among the top 10 stocks, rising 2.75 percent to 523,000 won after the U.S. Supreme Court struck down Trump’s 10 percent baseline import duty last Friday.
Sister company Kia gained 0.52 percent to 172,700 won, as the Korean auto industry had been among the hardest hit by the tariffs, which varied by country and product.
Market bellwether Samsung Electronics gained 1.53 percent to 193,000 won, while its cross-town rival SK hynix climbed 0.21 percent to 951,000 won.
But some other major stocks retreated, including LG Energy Solution, down 1.37 percent; Samsung Biologics, 1.09 percent; Doosan Enerbility, 1.45 percent; and Hanwha Aerospace, 0.48 percent.
Although KOSPI ended the session below 5,900 points, analysts said the 6,000-point milestone could be reached sooner than expected.
Source: Korea Times News
