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Kospi reaches historic high of 5,100 for the first time

Published: 28 Jan. 2026, 10:21 Updated: 28 Jan. 2026, 11:05

LIM JEONG-WON
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi on Jan. 28. [NEWS1]

Korean stocks opened sharply higher on Wednesday after U.S. President Donald Trump said his administration will "work something out" with Seoul over a trade deal, with the Kospi surpassing the 5,100-level for the first time ever, hitting another intraday record high.

The Kospi rose 83.87 points, or 1.65 percent, to 5,168.72 in the first 15 minutes of trading, before hitting 5,155.22, up 1.38 percent, as of 9:04 a.m.

Foreign investors and institutions are currently selling 140.5 billion won ($98 million) and 63 billion won, respectively, while individuals are net buying 202.4 billion won.

The Kosdaq also surpassed the 1,100 level on Wednesday, at 1,100.19, up 1.63 percent from the previous day.

Trump's comments on Tuesday, which came a day after he threatened to raise "reciprocal" tariffs against Korea to 25 percent from 15 percent, seemed to have reassured investors.

Overnight, U.S. stocks ended higher with mega-cap tech shares outperforming. The S&P500 advanced 0.41 percent, while the tech-heavy Nasdaq closed up 0.91 percent.

Investors are preparing for a wave of earnings results from the "Magnificent 7" companies and the Federal Reserve's interest rate decision, set to be due this week.

In Seoul, most large caps were trading higher.

Market top-cap Samsung Electronics added 1.94 percent, while its chipmaking rival SK hynix rose 1.88 percent. The two chipmakers started strong ahead of their fourth-quarter earnings release, widely expected to beat market expectations.

Industry leader Hyundai Motor gained 2.76 percent, battery maker LG Energy Solution vaulted 9.55 percent, and Samsung Biologics inched up 0.73 percent.

Defense giant Hanwha Aerospace added 3.74 percent on reports that the company secured a $1.9 billion rocket deal with Norway.

The local currency strengthened by 12.7 won from the previous session to trade at 1,433.5 against the dollar as of 9:15 a.m.

BY LIM JEONG-WON, YONHAP [[email protected]]