KOSPI Hits 9,000 for First Time; Analysts Eye 10,000 Milestone

The KOSPI surpassed the 9,000 mark for the first time in history today (June 18).

The index closed at 9,063.84, up 199.60 points or 2.25% from the previous trading session.

This milestone comes just 34 days after the index crossed the 8,000-point threshold during intraday trading on May 15.

The index opened at 8,884.92, up 20.68 points, and steadily expanded its gains. It broke through the 9,000 level at approximately 12:52 p.m. and soared as high as 9,106.07 in the late afternoon.

Despite the assessment that the results of the U.S. Federal Open Market Committee (FOMC) meeting were hawkish, news of the signing of a memorandum of understanding (MOU) to end the war between the United States and Iran appears to have positively influenced investor sentiment.

In particular, buying interest concentrated on semiconductor-related stocks following reports that SK Hynix had supplied samples of its high-bandwidth memory, HBM4E.

In the KOSPI market, foreign investors led the rally by net buying 1.271 trillion won worth of shares.

Conversely, individual and institutional investors net sold 375.3 billion won and 777.9 billion won, respectively.

Among top market-cap stocks, Samsung Electronics rose 4.62%, while SK Hynix surged 6.51%.

However, Hyundai Motor, Kia, and LG Energy Solution showed a downward trend.

On this day, the KOSPI market saw only 109 stocks rise, while 791 stocks fell, highlighting a significant concentration of gains in large-cap stocks.

Meanwhile, the KOSDAQ index closed at 1,000.93, down 31.03 points or 3.01%.

Bio and secondary battery-related stocks weakened as concerns over interest rate hikes intensified.

Lee Kyung-min, a researcher at Daishin Securities, explained, "News of the U.S.-Iran MOU to end the war has kept international oil prices weak, strengthening the preference for risk assets," adding, "In the domestic stock market, supply and demand have concentrated on large semiconductor and IT sectors, leading to a lopsided market."

Meanwhile, the brokerage industry is predicting the possibility of the KOSPI breaking through the 10,000 mark, supported by the earnings momentum of semiconductor companies.

However, some caution against market overheating, noting factors such as the rise in the KOSPI 200 Volatility Index.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.