KOSPI tops 3,000 points for 1st time in over 3 years

An electronic signboard at Hana Bank in central Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) hitting the 3,000-point mark for the first time in over three years on Friday. Yonhap

Korea's key stock index breached the 3,000-point mark for the first time in more than three years early Friday morning, driven by gains in big-cap tech shares.

The benchmark Korea Composite Stock Price Index (KOSPI) had risen 31.84 points, or 1.07 percent, to 3,009.58 as of 11:15 a.m.

It marked the first time the KOSPI hit the 3,000-point threshold since Jan. 3, 2022.

KOSPI surpassed the mark for the first time ever in its history on Jan. 6, 2021.

Wall Street was closed overnight for a federal holiday commemorating the end of slavery in the United States.

Tech behemoth Samsung Electronics gained 0.84 percent, while its chipmaking rival SK hynix jumped 3.25 percent.

Bio shares were strong, with Samsung Biologics up 1.8 percent and Celltrion gaining 1.87 percent.

Leading battery maker LG Energy Solution soared 3.78 percent, and defense giant Hanwha Aerospace went up 1.71 percent.

Kakao, the operator of the country's dominant mobile messenger, surged 3.48 percent, and major shipbuilder HD Hyundai Heavy advanced 2.21 percent.

But nuclear power plant manufacturer Doosan Enerbility slipped 1.97 percent, and HD Korea Shipbuilding dropped 1.45 percent.

The local currency was trading at 1,373.6 won against the greenback at 11:15 a.m., up 6.6 won from the previous session.