KOSPI nears 7,000 after five-day winning streak
KOSPI capped a weeklong rally Friday, briefly reclaiming the 7,000 level for the first time in three weeks as foreign investors piled into semiconductor stocks amid stronger sentiment toward the memory chip sector and easing U.S. inflation. The index nearly rose 25 percent from its July 30 low. The benchmark KOSPI closed at 6,977.94, up 2.42 percent from the previous session. The index opened…
The KOSPI index has reached a significant milestone, briefly reaching the 7,000 level after a five-day winning streak. This milestone marks the first time the index has hit this level in three weeks. The rally was fueled by foreign investors, particularly in semiconductor stocks, as sentiment towards the memory chip sector improved and U.S. inflation eased.
The KOSPI closed at 6,977.94, marking a 2.42 percent increase from the previous session. Despite reaching the 7,000 level, the index gave up some of its gains as investors took profits following the successful five-day streak. Key players in the gains included SK hynix and Samsung Electronics, with the former rising 3.26 percent to close at 1,645,000 won and the latter gaining 2.43 percent to finish at 274,500 won.
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- KOSPI nears 7,000 after five-day winning streak koreatimes.co.kr
