[Closing Market] KOSPI Surges Past 6,000 on SK hynix Earnings
On Oct. 28, the domestic stock market staged an unprecedented, massive rally driven by a mega-scale favorable factor in semiconductors. As SK hynix’s ‘record-breaking earnings surprise’ and massive shareholder return policy accelerated the momentum, the KOSPI index surged 6.63% to close at 6,012.44
On October 28, the domestic Seoul stock market (KOSPI) experienced an unprecedented surge, closing at 6,012.44 points, marking a 6.63% increase from the previous day's trading. This remarkable rally was driven by SK hynix's impressive earnings, which surpassed market expectations, and a significant shareholder return policy that totaled 100 trillion won.
The rally was further fueled by increased buying activity from foreign and institutional investors, who collectively pushed the index higher by a combined 1.58 trillion won. Individual investors, on the other hand, recorded a massive net selling of 1.7766 trillion won as they took profits and managed risks. The surge was propelled by the top two semiconductor stocks, SK hynix and Samsung Electronics, which both delivered strong performances, with SK hynix's share price soaring by 10.89% to close at 1,487,000 won and Samsung Electronics closing at 242,000 won, up by 9.01%.
Other large-cap stocks, including LG Energy Solution, Hyundai Motor, and POSCO Holdings, also posted significant gains, contributing to the overall improvement in investor sentiment. The top KOSDAQ market capitalization stocks also experienced a rally, with Rainbow Robotics leading the charge with a 14.65% increase, driven by favorable factors related to the robotics industry and concentrated institutional buying.
The day's trading closed at a won-dollar exchange rate of 1,337.7 won, up 14.0 won from the previous session, despite the market's strong performance.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
