KOSPI Hits Record High Amid Tech Surge; Profit-Taking Expected

The KOSPI surged 2.78% on Monday, closing at 4,221.87 and marking a fresh record high. This rally capped a four-session winning streak that saw the index advance approximately 5.3% in total. Trading volume reached 468 million shares, valued at 22.5 trillion won, with gainers significantly outnumbering decliners. The rally was heavily supported by the technology sector. SK Hynix led the gains with a massive 10.91% jump, while LG Electronics and Samsung Electronics rose 6.26% and 3.35%, respectively. Financial stocks also contributed to the upward momentum, with KB Financial and Shinhan Financial posting gains of 1.20% and 1.09%. Global sentiment provided a mixed backdrop. The NASDAQ climbed 0.46%, bolstered by Amazon's $38 billion agreement with OpenAI and news that Microsoft secured export licenses for Nvidia chips to the UAE. Conversely, the Dow Jones Industrial Average dropped 0.48%, weighed down by losses in Merck, Nike, and Chevron. In broader macro developments, OPEC's decision to halt production hikes for the first quarter of 2026 provided slight support to crude oil, with West Texas Intermediate trading at $61.05 per barrel. Meanwhile, US manufacturing activity showed an unexpected contraction in October. Market participants are now bracing for potential profit-taking on Tuesday as the index sits at an all-time high. Attention shifts to South Korea's October consumer price data, with analysts forecasting a 2.1% annual increase, matching the September reading.