The KOSPI index surpassed the 3100 mark during trading on the 24th. This is the first time since September 2021.
The KOSPI index showed 3100.58 at 12:21 p.m. on the same day, up 86.03 points (2.9%) from the previous day, marking the first time in 3 years and 9 months that it has reached the 3100 level.
Foreign investors and institutions drove the index rise by buying 397.5 billion won and 209.1 billion won, respectively. Individuals, who had previously bought over 1 trillion won the day before, showed a selling dominance of 568.4 billion won on this day.
Investor sentiment revived as the truce between Israel and Iran took effect. The exchange rate of the won against the U.S. dollar also dropped to the 1360 won level, encouraging foreign buying.
SK hynix, the second-largest company by market capitalization in the KOSPI market, saw its stock price rise by over 8%, becoming a driving force behind the index's rise. The market leader, Samsung Electronics, is also showing strength in the 3% range.
KakaoBank, along with Korea Electric Power Corporation and LS ELECTRIC, is showing double-digit stock price increases.
Conversely, as the geopolitical crisis in the Middle East eases, international oil prices have plummeted, causing oil stocks like Korea Petroleum and Daesung Energy to show double-digit declines. Shipping stocks, such as STX Green Logis and Heung-A Shipping, are also weak.
Defense stocks are also experiencing significant price drops. Stocks of Poongsan Holdings, LIG Nex1, and Poongsan are being traded at prices more than 10% lower than the previous day.