Seoul’s benchmark Kospi pierced the 4,100 mark for the first time Thursday, hitting a fresh intraday record before trimming gains to still finish at an all-time high closing, as mixed signals from trade developments sent the market on a volatile ride.
The Kospi ended at 4,086.89, up 0.14 percent from the previous day, extending its record-setting streak for a second straight session. The rally was initially fueled by optimism over Wednesday’s US-Korea trade deal, which propelled the index to open 0.61 percent higher at 4,105.95 — the first time it has breached the 4,100 threshold.
Momentum carried the index to an intraday peak of 4,146.72 early in the session, but renewed uncertainty and profit-taking soon set in, dragging it below 4,080 at one point.
Institutional investors led the selling, offloading a net 836.7 billion won ($585.5 million) and snapping a four-day buying streak. Foreign investors also sold a net 117.4 billion won, while retail investors bought a net 936.4 billion won, cushioning the decline.
Volatility persisted throughout the day as uncertainty lingered despite Seoul and Washington finalizing their trade accord. The Kospi briefly fell 0.25 percent to 4,040.79 after US Commerce Secretary Howard Lutnick said on X, “Semiconductor tariffs are not part of this deal.” The index rebounded later in anticipation of the US-China summit in Busan on the sidelines of the 2025 Asia-Pacific Economic Cooperation meeting, only to pare gains again after the talks produced limited results.
The secondary Kosdaq fell 1.19 percent to 890.86, despite foreigners’ net purchases of 185.4 billion won in the tech-heavy market.
The won also swung sharply amid the day’s major events, opening 6.7 won stronger at 1,425 per dollar and firming to as low as 1,419.3 intraday before reversing course. As sentiment soured late in the session, the currency weakened past 1,428 won per dollar as of 5:30 p.m.
jwc@heraldcorp.com
