KOSPI surpasses 6,000 to close on new high

Dealers at Hana Bank headquarters in downtown Seoul celebrate as the benchmark KOSPI closes at 6,083.86 points Wednesday, up 114.22 points, or 1.91 percent, from the previous session, marking its first close above 6,000 points. Korea Times photo by Shim Hyun-chul

The benchmark KOSPI hit a record high Wednesday, closing above 6,000 points in an accelerated rally just 30 days after it finished above 5,000 points.

The main index ended at 6,083.86 points, up 114.22 points, or 1.91 percent, from the previous session.

It took three months — from Oct. 27, 2025, to Jan. 27 — for the index to rise from 4,000 to 5,000, closing at 5,084.85 points on Jan. 27, but the latest 1,000-point increase was attained in a much shorter span.

The main index topped the 6,000-point mark at the start of the day, rising 0.89 percent to open at 6,022.70 points.

It largely sustained upward momentum during intraday trading, surging as high as 6,144.71 points, although it dipped to 5,984.28 at one point.

Institutional and retail investors were net buyers of more than 880 billion won ($615.85 million) and 228 billion won in stocks, respectively, while foreign investors were net sellers of 1.2 trillion won.

Wednesday’s rally lifted KOSPI to a cumulative gain of more than 40 percent so far in 2026, far outpacing 2025 when it surged 75.6 percent to post the largest increase among the world’s major stock markets. It remains the world’s fastest-advancing market this year.

Analysts attributed the accelerated rally to prolonged growth in the semiconductor sector — led by Samsung Electronics and SK hynix — and supported by the auto industry, which has recently shrugged off risks related to U.S. tariffs.

The Korean auto sector has been among the hardest hit by the tariffs, which varied by country and product, resulting in fluctuations in its stock prices.

“The accelerated growth of KOSPI shows that it possesses fundamentals and valuations strong enough to withstand such external pressures,” Kiwoom Securities analyst Han Ji-young said.

Han referred to inconsistent U.S. tariff policies under the Donald Trump administration, the unpredictable direction of the U.S. Federal Reserve’s monetary policy under incoming Chairman Kevin Warsh, and concerns about the profitability of U.S. artificial intelligence stocks.

On Wednesday, Samsung Electronics and SK hynix rose 1.75 percent and 1.29 percent, respectively, closing at 203,500 won and 1,018,000 won, and holding above the 200,000 won and 1 million won thresholds for the second consecutive day.

The top two listed companies have steadily risen from the 128,000-won range for Samsung Electronics and the 677,000-won range for SK hynix at the start of 2026, riding the global semiconductor supercycle.

No. 1 carmaker Hyundai Motor and its sister company Kia recorded the largest gains among the top 10 listed companies.

Hyundai Motor, ranking third, gained 9.16 percent to close at 572,000 won, while Kia, in eighth place, climbed 12.7 percent to end at 196,100 won.

Other major stocks posted gains, including LG Energy Solution at 3.27 percent, SK Square at 4.86 percent, Samsung Biologics at 0.29 percent, Doosan Enerbility at 1.88 percent and KB Financial at 0.6 percent.

Regarding KOSPI’s growth potential, Hana Securities researcher Lee Jae-man said, “There is plenty of room to grow,” and predicted that semiconductor stocks could gain 74.8 percent from current levels.

Multiple brokerages, including Hyundai Motor Securities, NH Investment & Securities, Kiwoom Securities, Korea Investment & Securities, Yuanta Securities and Daishin Securities, have raised their KOSPI forecasts for this year, with targets as high as 7,500.