South Korea's KOSPI market capitalization approaches 2,340 trillion won...a new record high

The market capitalization of the Korea Composite Stock Price Index (KOSPI) has finally reached a new all-time high. On the 9th, according to the Korea Exchange, the KOSPI index rose 9.62 points (0.34%) from the morning session, down 2
The index closed at 867.38. The index was up 14.87 points (0.52%) from the previous trading day, paring gains after opening at 2872.63. It was in a relatively unchanged range during trading.
After exceeding 2,800 points last week, the KOSPI fell slightly the previous day and took a breather. It moved within a narrow range again on this day, but updated its yearly high (2,875.37).
Although the increase itself was not large, the stock successfully rebounded, recording its highest closing price since January 17, 2022 (2,890.10), and the market capitalization also reached an all-time high.
According to the Korea Exchange, the KOSPI market capitalization on that day was 2,339,686.6 billion won (about 272,708.5 billion yen), the highest ever recorded.
This surpassed the 2,339,206 billion won recorded on August 10, 2021. From the 9th (local time), the Federal Reserve Chairman Jerome Powell's congressional testimony and the June consumer spending index in the United States were announced.
There was a strong wait-and-see mood in the market overall, as events that will determine the future direction of the U.S. benchmark interest rate continue to come up, such as the release of the Consumer Price Index (CPI) and the June Producer Price Index (PPI).
"Investors are hoping for dovish comments from Chairman Powell and a moderate inflation index, but the burden of the recent rise in the index means that it is difficult to predict a further increase," said Lee Kyung-min, a researcher at Daishin Securities.
"We are in a situation where we cannot find any material to support this," he said. On the Seoul foreign exchange market, the won-to-dollar exchange rate fell 1.7 won from the previous session to close at 1,381.6 won.
In the stock market, foreign investors made net purchases of 313.6 billion won, while individuals sold 292.5 billion won and institutions sold 31 billion won. SK Hynix rose 2.14% and Sa
Musung Electronics also rose 0.46%. LG Energy Solution rose 1.26% despite the stock market's target price being revised downward. Celltrion (2.07%) also rose 1.26%.
, Samsung Life (1.57%), and Samsung BioLogics (0.51%) rose. On the other hand, Hyundai Motors (-3.00%), Kia Motors (-1.37%), Hyundai Mobis (
The Hyundai Motors union reached a tentative agreement on wage negotiations the previous day, but the U.S. distributor was accused of exaggerating its electric vehicle sales volume.
The news that the group was sued by the Korean Federal Court is believed to have had a negative impact on the group's overall stock price. Hana Financial Holdings (-2.65%), KB Financial (-1.96%), Shinhan Financial (-1.26%),
Holdings (-0.96%) and POSCO Future M (-2.25%) were also weak. By industry, machinery (1.92%), medical precision (1.44%), pharmaceuticals (1.28%), construction
Industries such as industrial (1.08%) and electrical and electronics (0.89%) rose, while transportation equipment (-1.43%), transportation and warehousing (-0.86%), and electricity and gas (-0.83%) fell.
The KOSDAQ index closed at 860.42, up 1.15 points (0.13%) from the previous day. The index was up 0.91 points (0.11%) to 86
After opening at 0.18, the stock price maintained an upward trend during trading. Samcheongdang Pharmaceutical (8.46%), Reno Industries (6.04%), EO Technics (3.70%), and HLB (3.1
5%), SILICON2 (1.58%), etc. rose, while Arteogen (-3.67%), EcoPro (-3.07%), Enchem (-2.86%), EcoPro BM (-2.42%)
The trading volumes on the securities market and the KOSDAQ market on that day were 11.1352 trillion won and 8.3647 trillion won, respectively.