KOSPI hits new high, surpassing 4600 points: Foreign investment buying drives semiconductor sector to lead gains

Source: BlockMedia Original Title: [Market Opening] “Jensen Huang pushed, foreigners pulled”⋯ KOSPI touches 4600 level Original Link: The Korea Composite Stock Price Index (KOSPI) continues to hit new highs for the year, driven by foreign investment buying. The KOSPI index, supported by strong performances in large-cap stocks such as semiconductors and AI, temporarily broke through 4600 points.

According to data from the Korea Exchange, as of 9:20 a.m., the KOSPI index decreased by 65.90 points (1.46%) from the previous trading day, closing at 4591.38 points. The index opened at 4566.34 points, up 40.86 points (0.90%) from the previous day (4525.48). The gains then expanded to over 1%, and it broke through 4600 points during trading.

Three consecutive trading days of new highs in the New Year

The KOSPI set new records for three consecutive trading days at the start of the year. After first surpassing 4300 points on January 2, it broke 4400 on the 4th, and the previous trading day exceeded 4500, with today’s intraday reaching over 4590 and approaching 4600.

The U.S. New York stock market closed higher overall last night. Driven by the U.S. stock market, foreign investment continued to flow in, further strengthening the upward momentum centered on large semiconductor stocks.

Market sectors related to semiconductors, AI, and energy rose in tandem, with overall risk asset appetite strengthening. Small- and mid-cap stocks also followed suit. The Russell 2000 index rose by 1.32%, outperforming large-cap stocks, reflecting improved investor sentiment.

Analysts note that, despite policy stance differences among Federal Reserve members, positive comments at CES 2026 regarding the semiconductor industry and artificial intelligence had a significant impact. Since the beginning of the year, both U.S. and Korean stock markets have been led by semiconductor stocks, sparking a rally.

Foreign investors buy alone, semiconductor stocks hit new highs again

In the securities market, foreign investors bought stocks worth 51.13 billion KRW alone. In contrast, individual and institutional investors sold 28.64 billion KRW and 20.76 billion KRW, respectively.

By industry, electrical electronics (+2.78%), transportation equipment parts (+2.78%), and circulation (+2.58%) performed strongly. Meanwhile, food and tobacco (-1.39%), chemicals (-0.87%), and pulp and wood (-0.40%) sectors underperformed.

The top ten market cap stocks showed mixed movements. Samsung Electronics and SK Hynix, which hit new highs the previous trading day, fell 2.10% and 1.29%, respectively. SK Square and LG Electronics rose 2.16% and 2.62%, reaching 141,800 KRW and 745,000 KRW, setting intraday highs. Samsung Biologics (+3.83%) and Hyundai Motor (+6.17%) also performed strongly, while SK Square (-0.35%) and Doosan Energy Velitiy (-0.81%) underperformed.

Analysts say that the KOSPI’s rapid move into the 4500-point range is notable. It is expected that today’s market will be influenced by the momentum from CES 2026, with U.S. semiconductor stocks surging at the open. However, there may be a phase of profit-taking and sector rotation due to short-term overbought signals and cautious outlooks on Samsung Electronics’ temporary earnings.

KOSDAQ supported by individual buying, slight decline

Meanwhile, the KOSDAQ index fell 1.50 points (0.16%) from the previous trading day, closing at 954.47 points. It opened at 957.74 points, up 1.77 points (0.19%) from the previous day (955.97), but then turned downward.

In the KOSDAQ market, sectors such as metals (+0.18%), electrical electronics (+0.49%), and transportation equipment parts (+1.12%) outperformed, while others declined. Communication (-1.03%), IT (-1.32%), and entertainment & culture (-2.21%) sectors showed weakness.

From a supply and demand perspective, individual investors net bought 24.41 billion KRW alone. In contrast, foreign and institutional investors sold 19.86 billion KRW and 4.44 billion KRW, respectively.

The top ten market cap stocks on KOSDAQ also showed mixed trends. ABL Bio (+2.24%), LigaChem Bio (+2.51%) rose, while HLB (-2.01%), Peptron (-1.97%), and Altogen (-0.53%) declined.

Overheating signals in the rapid rise of KOSPI at the start of the year

Analysts point out that the KOSPI surged over 300 points in three consecutive trading days at the start of the year, which has triggered technical overheating signals. There is a concentration of certain market caps and industry sectors.

Additionally, in the Seoul foreign exchange market, the Korean won opened at 1,448.5 KRW against the USD, up 3.0 KRW from the previous trading day’s close of 1,445.5 KRW.