The KOSPI index has once again hit a record high. Rising every day for eight consecutive trading days since the New Year, the KOSPI index surged to the threshold of the 4,700 level. Although the semiconductor sector, which had driven the stock market, underwent adjustments, abundant funds flowed into other sectors such as automobiles, shipbuilding, and defense instead of withdrawing from the market. On the 13th, the KOSPI index closed at 4,692.64, up 67.85 points (1.47%) from the previous trading day. It edged closer to the 4,700 level, leaving the "dream 5,000-point" mark just over 300 points away. The KOSPI index, which started trading at 4,662 points that day, saw its intra-day gains expand. Although foreigners were net sellers in the stock market, the scale of net selling was limited to around 300 billion Korean won. On the contrary, foreigners were net buyers of KOSPI 200 futures. Although the won-to-dollar exchange rate again exceeded 1,470 won, the phase of simultaneous rises in stock prices and the exchange rate continues. While individuals showed profit-taking with a selling dominance of 700 billion Korean won, institutions boosted the index with a net purchase of 800 billion Korean won. Most of the institutional volume was financial investment, where exchange-traded funds (ETFs) are aggregated. Although concerns grew that the independence of the U.S. Federal Reserve could be undermined following the criminal lawsuit filed against Chairman Jerome Powell of the U.S. Federal Reserve Board the previous day, the impact on the stock market was minimal. This was because there was backlash even within the Trump administration that filed the lawsuit. On the contrary, as listed companies released their fourth-quarter earnings, expectations for further market gains, dubbed the "earnings rally," grew. Additionally, Moody’s, a global credit rating agency, stimulated investment sentiment by analyzing that investment would expand over the next five years due to the expansion of artificial intelligence (AI) infrastructure. Thanks to this, U.S. stock markets showed strong gains. Although Samsung Electronics and SK Hynix fell due to profit-taking, the decline was not significant. While large semiconductor stocks paused, investment funds flowed evenly into defense, shipbuilding, automobiles, and secondary battery sectors. Hyundai Motor Group set a new high for the year. Hyundai Motor’s stock price surpassed 400,000 won, hitting a record high, and other Hyundai Motor Group stocks such as Kia, Hyundai Mobis, and Hyundai AutoEver also rose sharply. Shipbuilding and defense sectors, including HD Hyundai Heavy Industries and Hanwha Aerospace, also showed strength.   In contrast, the KOSDAQ index closed slightly down. Although the KOSDAQ index started the day with gains, it fell in the early part of the session and struggled to rebound. The KOSDAQ index closed at 948.98, down 0.83 points (0.09%). (ICE SEOUL)

Fonte notizia: The Chosun Daily