Seoul: South Korean stocks extended their winning streak to a fifth day, closing at a record high, driven by gains in the automotive and shipbuilding sectors, although the Korean won weakened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 9.15 points, or 0.24 percent, ending the session at 3,823.84.
According to Yonhap News Agency, trade volume was substantial, with 522.5 million shares exchanged, valued at 19.3 trillion won (US$13.5 billion). The number of losing stocks exceeded winners, with 497 losers compared to 367 gainers. Institutional investors emerged as net buyers, purchasing shares worth 211.6 billion won, whereas individual and foreign investors sold off shares valued at 155.6 billion won and 12.4 billion won, respectively.
The KOSPI had been on an upward trajectory since Wednesday, fueled by optimism over easing trade tensions between the United States and China. The index started the day on a strong note, rising more than 1 percent, supported by robust performances of chip heavyweights and positive trends in U.S. tech stocks. However, the index relinquished some of its early gains amid volatile trading as investors sought to lock in recent profits.
Lee Kyung-min, an analyst at Daeshin Securities, noted that as the session progressed into the afternoon, investors were inclined to cash in on profits. Most major shares displayed mixed results across the board. Semiconductor stocks paused following recent rallies, with chip giant Samsung Electronics declining by 0.61 percent to 97,500 won, ending a four-day winning streak. Similarly, SK hynix fell by 1.34 percent to 479,000 won, breaking its four-day winning streak.
In contrast, automotive stocks performed well. Leading carmaker Hyundai Motor saw its shares rise by 3.43 percent to 256,500 won, while its smaller affiliate Kia experienced a 1.14 percent increase to 115,800 won. Defense company Hanwha Aerospace increased by 2.2 percent to close at 974,000 won, and top battery producer LG Energy Solution rose by 1.04 percent to 437,000 won.
The Korean won was quoted at 1,427.75 won against the U.S. dollar as of 3:30 p.m., marking a decrease of 8.55 won from the previous session's close.