KOSPI hits record closing high as SK hynix extends rally

The benchmark KOSPI closed at an all-time high of 8,864.24 on Wednesday, moving within striking distance of the 9,000 milestone after rebounding sharply from early losses. SK hynix led the surge, hitting a fresh all-time high above the 2.5 million won ($1,653.66) mark, backed by expectations for expanded shareholder returns, a strong growth outlook for high-bandwidth memory and hopes for a U.S. listing of American depositary receipts. According to the Korea Exchange, the benchmark KOSPI finished at 8,864.24, up 1.58 percent from the previous session, closing at an all-time high. It fell short of the intraday record of 8,933.62 set on June 2. Foreign investors sold a net 990 billion won worth of shares. But institutional and retail investors bought a net 577.7 billion won and 543 billion won, respectively, helping the index reverse early losses and close higher. Despite a plunge in the Philadelphia Semiconductor Index in the U.S., SK hynix extended its winning streak to a fifth consecutive session, closing at 2,521,000 won, up 5.84 percent from the previous session. Samsung Electronics clWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times