Surpassing 6,000, It Took Less Than a Month to Rise by 1,000
The KOSPI has reached the historic milestone of 6,000, gaining 1,000 points in less than a month after surpassing 5,000.
The KOSPI index has officially entered the 6,000 range, achieving this historic milestone just one month after it exceeded 5,000 on January 27. Since the presidential election on June 3 of last year, the KOSPI has seen an astonishing increase of 125.4%, with a 44.4% rise occurring in less than two months of this year alone. On this notable day, the KOSPI opened at 6022.70, recording the '6,000' pivotal mark right from the start, despite a slight dip shortly after opening which momentarily brought it below that threshold before it surged again to reach as high as 6144.71 before closing at 6083.86, marking a daily increase of 1.91%.
The market capitalization of the KOSPI has also crossed the significant 5,000 trillion won threshold, now standing at 5,016 trillion won, a landmark not seen before in history. The KOSPI has shown explosive growth this year, having only experienced six losing trading days out of the 36 days up till the 25th of this month. Its performance of 44.4% gain not only positions it as the leading market among major countries but also outpaces the likes of Turkey and Japan, as evidenced by recent data from Investing.com, which reported growth rates of 23.5% and 16.3% for Turkey's BIST index and Japan's Nikkei 225 respectively.
Key players behind this growth have been major semiconductor firms, particularly Samsung Electronics and SK Hynix, which dominate the KOSPI with substantial market capitalizations. Samsung Electronics saw a rise of 1.75% on the day, closing at 200,350 won and representing 24.1% of the market. Since the June 3 election, Samsung's share price has soared by 258.3%, while it has increased by 69.7% in just this year. Meanwhile, SK Hynix also performed robustly, rising by 1.29% to close at 1,018,000 won, with impressive gains of 390.6% since the election, demonstrating the significant impact of these corporations on the KOSPI's upward trajectory. Moreover, institutional investors have driven this bullish market trend, purchasing a net amount of 880.8 billion won on this day alone.