KOSPI surpasses 5,500 mark for 1st time in midday trading
The KOSPI index is displayed on the dealing room board of Hana Bank in Seoul, Thursday. Yonhap
Korean stocks surpassed the 5,500-point mark in midday trading for the first time on Thursday, boosted by sharp gains in blue-chip tech shares, including Samsung Electronics and SK hynix.
The benchmark Korea Composite Stock Price Index (KOSPI) had added 157.13 points, or 2.93 percent, to 5,511.62 as of 10:59 a.m. before dropping just below the threshold as of 11:20 a.m.
This marked the first time the KOSPI surpassed the 5,500-point mark.
Semiconductor shares were the main driving force that pushed up the index, with Samsung Electronics shooting up 6.08 percent and SK hynix soaring 3.26 percent.
Leading battery maker LG Energy Solution surged 3.95 percent, and artificial intelligence investment firm SK Square jumped 6.2 percent.
Financial shares were also bullish.
Shinhan Financial escalated 4.56 percent, and Hana Financial increased 1.43 percent.
On the other hand, auto giant Hyundai Motor lost 0.39 percent, and power plant manufacturer Doosan Enerbility dipped 2.09 percent.
Major bio firm Celltrion tumbled 3.13 percent.
Overnight, major U.S. indexes closed slightly lower as investors showed a mixed reaction to the stronger-than-expected U.S. jobs report, which raised hopes the U.S. economy would remain solid and the Federal Reserve may keep its interest rates unchanged.
Investors are now waiting for U.S. consumer prices data set to be released Friday, which will give further clues on the Fed's monetary policy direction.