[Digital Today reporter Oh Sang-yup (오상엽)] The KOSPI index touched the 5,000 mark, a level considered a "dream index". That comes about 3 months after it broke above 4,000 in October last year.

The KOSPI opened at 4,987.06 on Wednesday and moved above 5,000 immediately. It briefly hit a record high of 5,016.73 during the session. It later pared gains and closed at 4,952.53, up 42.60 points, or 0.87 percent, from the previous session.

The 5,000 milestone comes just 3 months after the South Korean stock market first rose above 4,000 points on Oct. 27 last year. The KOSPI has risen every single day so far this year, showing strong momentum.

On Tuesday, it broke above 4,900 for the first time and kept its upward trend. It maintained that pace with the 5,000 milestone.

Flows were mixed. Foreign and institutional investors posted net sales of 297.2 billion won and 102.8 billion won, respectively, while retail investors logged net purchases of 155.6 billion won.

Moves among the largest stocks by market capitalisation were mixed. Samsung Electronics closed up 1.87 percent at 152,300 won, and SK Hynix ended up 2.03 percent at 755,000 won. Semiconductor shares led the KOSPI's gains on the day.

Automakers were weaker. Hyundai Motor fell 3.64 percent and Kia dropped 4.36 percent.

That contrasted with Hyundai Motor's more than 15 percent surge on Tuesday, which lifted it to third place by market capitalisation. LG Energy Solution rose 5.70 percent, while Samsung Biologics fell 5.07 percent for a sharp decline.

The KOSDAQ also rose. The index closed up 19.05 points, or 2.00 percent, at 970.35.