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KOSPI Sets New Record Close Above 3,940 as TrumpXi Summit Confirmation Lifts Seoul Stocks

Confirmation of a Korea meeting between Trump with Xi calmed trade worries, drawing buyers to chip and battery leaders.

Overview

  • The index climbed 2.5% to finish at 3,941.59, a record close, after touching 3,915.84 earlier in the session.
  • The White House set Oct. 30 for a TrumpXi meeting in Korea, easing trade concerns that had knocked the market the previous day.
  • Institutions bought about 1.4 trillion won and foreign investors 581.5 billion won, while retail investors sold roughly 2 trillion won.
  • Semiconductor and battery heavyweights led gains, with SK hynix up 6.58%, Samsung Electronics up 2.38% and LG Energy Solution up 9.94%, while autos were mixed.
  • The Korean won firmed to around 1,436.9 per U.S. dollar as risk sentiment improved.