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Kospi maintains hot streak as it surpasses 2,800 for first time this year

Published: 05 Jun. 2025, 10:24

Korean bourse Kospi breaks the 2,800 mark for the first time in 2025 on June 5. [YONHAP]

The Kospi surpassed the 2,800 mark for the first time this year on Thursday, extending a streak of year-to-date highs.

The benchmark index opened at 2,790.33, up 19.49 points, or 0.70 percent, from the previous day. As of 10:04 a.m., it was trading at 2,808.78, up 37.94 points, or 1.37 percent. This marks the first time the Kospi has exceeded 2,800 during intraday trading since July 19 last year, when it reached 2,802.68.

On Wednesday, the first day of President Lee Jae-myung’s term, the index closed above 2,770 for the first time in 10 months, boosted by net foreign purchases worth 1.05 trillion won ($773.6 million).

Foreign investors continued buying on Thursday, recording net purchases of 345.1 billion won as of late morning, pushing the index to fresh year highs for a second consecutive session.

Market analysts attributed the rally to expectations of a supplementary budget exceeding 30 trillion won and potential rate cuts by the Bank of Korea. Additionally, renewed investor optimism toward semiconductor stocks — driven by momentum from the United States — was seen as a key driver lifting the local market.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY CHO MUN-GYU [[email protected]]