KOSPI Maintains Momentum as Tech and Financials Drive Gains

The KOSPI index surged for a second consecutive session, gaining over 280 points, or 3.1%, over the two-day period. On Wednesday, the index climbed 123.64 points, or 2.07%, to settle at 6,091.39, trading within a daily range of 6,064.23 to 6,183.21. The rally was supported by a wave of buying across financial shares, technology, chemicals, and industrials. Trading volume reached 915.03 billion shares, valued at 31.37 trillion won, with 570 gainers significantly outnumbering 273 decliners. Major tech and growth players saw notable jumps, with SK Hynix rising 2.99% and Samsung Electronics gaining 2.18%. Naver led the charge with a 4.71% increase, while automotive stocks like Hyundai Motor surged 3.36% and Kia Motors strengthened 1.54%. The local momentum mirrors record-breaking performance in the U.S., where the NASDAQ and S&P 500 reached new highs. The NASDAQ's surge was particularly driven by tech strength, highlighted by a strategic partnership between Broadcom and Meta. However, regional outlooks remain cautious as profit-taking balances against strength in the energy and tech sectors. Market sentiment is also being shaped by tentative optimism regarding U.S.-Iran peace talks, though the ongoing blockade of Iranian ports continues to support crude oil prices, with West Texas Intermediate trading at $91.64 per barrel.