KOSPI closes above 7,000 for first time in five sessions

  • KOSPI closed above 7,000 after institutional buying lifted the index during afternoon trading.
  • 0.46% was the KOSPI's gain, ending at 7,003.74 on the 2nd.
  • KOSDAQ briefly exceeded 900 for the first time in about three months before closing lower.

The KOSPI closed at 7,003.74 on the 2nd, rising 32.39 points, or 0.46%, from the previous session and ending above 7,000 for the first time in five sessions ahead of the National Foundation Day holiday. The index initially fell 0.47% but recovered in the afternoon as institutions bought 400 billion won net, offsetting net sales of 1.7 trillion won by retail investors and 140 billion won by foreign investors. The session reflected competing profit-taking and demand for artificial intelligence and semiconductor shares, with U.S. Treasury yields remaining a key market focus. Samsung Electronics, the KOSPI's largest company by market value, finished unchanged at 276,000 won after falling as much as 1%, while SK hynix closed 0.44% higher. The KOSDAQ briefly exceeded 900 for the first time in about three months but ended 0.11% lower at 893.29. Analysts said the U.S. September jobs report, due later that night, would influence domestic equities after the holiday, while Samsung Electronics' preliminary earnings release on the 8th would become the next major catalyst. LS Securities said an earnings beat could support Samsung's share price and protect the downside, but easing interest-rate and geopolitical risks would be needed for a near-term valuation expansion and renewed market leadership. Daishin Securities analyst Lee Kyoung-min said rate volatility was likely to guide the market until the earnings release.

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