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Kospi Notches Fifth Straight Record After Brief Trip Above 4,600

Retail investors drove gains in shipbuilding and defense to offset institutional and foreign selling.

Overview

  • The index in Seoul edged up 0.03% to 4,552.37, marking a fifth consecutive record close after touching an intraday high of 4,610.93.
  • Shipbuilding and defense led the session—HD Hyundai Heavy Industries rose 4.49%, Hanwha Aerospace jumped 7.92%, and Korea Aerospace Industries gained 4.92%—while major banks lagged on earnings and regulatory worries.
  • Samsung Electronics’ projection of roughly 20 trillion won in fourth-quarter operating profit buoyed chip sentiment even as the stock fell 1.56% on profit-taking.
  • Retail investors were net buyers by 1.26 trillion won, offsetting net selling by institutions of 1.39 trillion won and by foreigners of 103.28 billion won, with foreigners turning sellers after heavy purchases a day earlier.
  • The won weakened to 1,450.60 per U.S. dollar and government bond yields eased, with three-year and five-year benchmarks slipping to 2.902% and 3.163%.