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Kospi crosses 4,800 as winning streak extends into 11th day

Published: 16 Jan. 2026, 13:10 Updated: 16 Jan. 2026, 13:11

A screen in Woori Bank's trading room in central Seoul shows the Kospi trading above the 4,800 mark on Jan, 16, 2026. [WOORI BANK]

The benchmark Kospi index hit a fresh record on Friday, breaking above 4,800 for the first time in intraday trading as sustained buying by retail investors offset selling by foreign and institutional players.

As of 11:14 a.m., the Kospi was up 48.78 points, or 1.02 percent, to 4,846.33, according to the Korea Exchange.

The index opened 0.48 percent higher at 4,820.66, quickly surpassing its previous intraday high of 4,797.55 set a day earlier. Individuals were net buyers, while foreign and institutional investors sold.

If the index ends the session higher, it will post gains for an 11th straight trading day since the start of the year. That would mark the third-longest winning streak on record, after a 13-session rally in September 2019 and a 12-session run in March and April 2006.

The advance has broadened beyond semiconductor heavyweights such as Samsung Electronics and SK hynix, which had led earlier gains, to sectors including robotics, defense, shipbuilding and automobiles.

“Demand is likely to rotate toward defense, shipbuilding, power equipment and health care, which have lagged the previous market leaders but retain solid fundamentals,” said Lee Sang-yeon, a researcher at Shinyoung Securities.

U.S. stocks ended higher overnight, providing additional support for sentiment.

A screen in Hana Bank's trading room in central Seoul shows the Kospi trading above the 4,800 mark on Jan. 16, 2026. [NEWS1]

Still, analysts warned of growing risks, particularly from currency and interest rates. The won continued to weaken despite verbal intervention by authorities on Thursday. On Friday, it opened at 1,470.0 per dollar, up 0.3 won from the previous session.

While a weaker currency tends to benefit exporters, it can also encourage foreign outflows due to concerns over exchange-rate losses.

Investors are also watching the Bank of Korea (BOK) after policymakers removed references to the possibility of a rate cut from their latest statement, dampening expectations for near-term monetary easing. Additionally, a tariff agreement reached overnight between the United States and Taiwan has added uncertainty over potential implications for Korea’s semiconductor industry.

“The stock market shows a clear K-shaped polarization between export-oriented companies such as chipmakers and domestically-focused firms,” BOK Gov. Rhee Chang-yong said on Thursday.

“Although low price-to-book ratios suggest there is room for further gains, the market could face corrections at any time depending on changes in overseas demand,” he said.

“Short-term fatigue from the rapid rally is colliding with positive momentum in U.S. semiconductor stocks,” said Han Ji-young, a researcher at Kiwoom Securities. “With both upside and downside factors in play, cautious trading is likely to continue during the session.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY PARK YU-MI [[email protected]]