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Kospi Notches Eighth Straight Record Close Near 4,700 as Autos, Defense Surge

Institutional demand carried the rally despite currency weakness.

Overview

  • The Kospi rose 1.47% to 4,692.64 on Tuesday, setting an all-time intraday high of 4,714.15 and extending its winning streak to eight sessions.
  • The won weakened to 1,473.7 per U.S. dollar, the lowest level in three weeks by the late session.
  • Autos and defense led gains, with Hyundai Motor up 10.63% to a record 406,000 won and Hyundai Mobis up 14.47%, while Samsung Electronics fell 0.86% and SK hynix slid 1.47%.
  • Institutions were net buyers of 788.5 billion won as foreigners sold 279 billion won and retail investors offloaded 713.1 billion won.
  • Recent flow data show early-January net foreign purchases of about 1.74 trillion won focused on Celltrion, Hanwha Aerospace and Hanmi Semiconductor, with analysts highlighting faster earnings upgrades and a potential move toward 5,000 in the first quarter.