Building on January 2's 1.1% gain to 4,260.55, South Korean stocks extended their rally on January 5, propelled by semiconductors and tech shares. The KOSPI surged 2.6% to 4,421.63 as of 11:20 a.m.—crossing 4,400 for the first time—with foreigners net buying heavily despite mixed Wall Street cues.
Seoul's benchmark opened sharply higher, up 93.31 points (2.17%) to 4,402.94 in the first 15 minutes, and climbed further by 112 points (2.6%) to 4,421.63 by 11:20 a.m. Foreigners net purchased 872 billion won ($602 million) of shares, countering sales by institutions (318.16 billion won) and individuals (550.9 billion won).
The prior Friday's mixed Wall Street close saw the Dow up 0.66% at 48,382.39 and Nasdaq down 0.03% at 23,235.63, yet Seoul tech powered ahead: Samsung Electronics leaped 5.53% and SK hynix advanced 2.58%. Autos and industrials joined: Hyundai Motor +2%, Kia +1.49%, POSCO Holdings +2.02%, HD Hyundai +2.88%. Laggards included HMM -1.44% and Hitejinro -0.33%.
The won weakened to 1,447.55 per dollar, down 5.75 won. This momentum underscores sustained optimism in the tech sector amid the year's early rally.
