KOSPI ends flat around 6,475 as Kosdaq hits highest in 25 years

[DigitalToday reporter Sangyeop Oh (오상엽)] South Korea's KOSPI ended near flat as investors showed signs of fatigue after a recent run of gains. The Kosdaq, however, rose more than 2 percent to set a new high for the first time in 25 years.

On Friday, the KOSPI finished at 6,475.63, unchanged from the previous session. The index opened up 20.29 points, or 0.31 percent, at 6,496.10 and at one point rose to 6,516.54.

The move is seen as reflecting concerns about short-term overheating after the market's latest run of record highs. The KOSPI had earlier extended a streak of fresh records after breaking above the 6,500 mark.

By investor type, individuals and institutions were net buyers of 1.181 trillion won and 807.4 billion won, respectively, supporting the index, while foreign investors sold a net 1.9497 trillion won as they moved to take profits.

Top stocks by market capitalisation showed mixed moves.

Samsung Electronics fell more than 2 percent to 219,500 won, and SK Hynix also posted a slight loss. LG Energy Solution rose more than 3 percent, while Doosan Enerbility, Hanwha Aerospace and HD Hyundai Heavy Industries were among gainers. Hyundai Motor fell in the 3 percent range as it entered a correction.

The Kosdaq showed a clear upward trend. The Kosdaq closed up 29.53 points, or 2.51 percent, at 1,203.84. That was its highest level in about 25 years and 8 months since Aug. 4, 2000.

By investor, foreign investors were net buyers of about 800.0 billion won on the Kosdaq, lifting the index. That contrasted with their net selling of more than 2.0 trillion won in the main market.

In the foreign exchange market, the won-dollar exchange rate rose slightly. The won stood at 1,485.70 per dollar, up 0.11 percent from the previous day.

Keyword

#KOSPI #Kosdaq #Samsung Electronics #SK Hynix #won-dollar exchange rate
Copyright © DigitalToday. All rights reserved. Unauthorized reproduction and redistribution are prohibited.