KOSPI Breaks 5200 for the First Time... Individual Investors Bet 1.6 Trillion Won, Setting a New Record

On the 29th, the KOSPI broke the 5200 mark for the first time, setting a new all-time closing high. For two consecutive days, large-scale net buying by individual investors led to the rise in the index.

On that day, the KOSPI closed at 5221.25, up 50.44 points (0.98%) from the previous session. The index showed strength, rising to 5252.61 shortly after the market opened, but experienced increased volatility, dropping to 5073.12 at one point in the morning. However, it quickly recovered in the afternoon, reclaiming the 5200 level.

In the securities market, individuals net bought 1.6175 trillion won, pushing the index higher. In contrast, foreigners net sold 1.5097 trillion won, and institutions net sold 150.2 billion won. Foreigners also sold 489.5 billion won worth in the KOSPI 200 futures market, realising profits.

External variables remained relatively stable. Overnight, the New York stock market showed mixed trends as it digested the results of the Federal Open Market Committee (FOMC) meeting. The FOMC kept the benchmark interest rate unchanged at 3.50-3.75%, and Federal Reserve Chairman Jerome Powell stated, "The basic outlook is not that the next action will be a rate hike," easing market anxiety.

Before the domestic market opened that day, Samsung Electronics announced its record-high sales from last year. The consolidated sales reached 333 trillion won, the highest ever, while operating profit was 43 trillion won, the fourth highest on record. Samsung Electronics surged at the beginning of trading but later turned down by 1.05% amid perceptions of 'material exhaustion'. SK Hynix, which released its earnings the previous day, closed up 2.38%.

The top market capitalisation stocks showed mixed results. Hyundai Motor (7.21%), Kia (3.47%), and NAVER (3.42%) showed strength, while LG Energy Solution (-3.36%) and Celltrion (-1.83%) declined. By sector, securities (9.99%) surged, and machinery & equipment, transportation & warehousing, and finance also showed strength.

The KOSDAQ index also rose significantly. The KOSDAQ closed at 1164.41, up 30.89 points (2.73%). It briefly fell to the low 1100s during the day but turned upward with the support of institutional buying. Institutions net bought 2.0421 trillion won in the KOSDAQ market, leading the index's rise.

Since the beginning of the year, the KOSDAQ's rise rate is 25.8%, surpassing the KOSPI (23.9%) and recording the highest level among major global stock markets.

Meanwhile, the trading volume in the securities market and KOSDAQ market reached 35 trillion won and 22 trillion won, respectively, exceeding a total of 50 trillion won for two consecutive days. There are also evaluations that overheating signals are appearing across the stock market.