Kospi storms past 4,500

The South Korean benchmark Kospi extended its record rally and broke past another milestone Tuesday, surging past 4,500 points.

The Kospi closed at 4,525.48, gaining 67.96 points, or 1.52 percent, from the previous session, according to the Korea Exchange. It was the first time for the index to surpass the 4,500 mark in terms of both intraday trading and closing price.

The index opened at 4,446.08, losing 0.26 percent from the previous session. It slid to an early low of 4,395 before reversing course and climbing steadily. The benchmark later broke above the 4,500 mark, touching an intraday high of 4,525.48 and finishing at that level.

Retail investors drove the surge, net purchasing shares worth 596 billion won. Foreign investors were net sellers, offloading 618 billion won on the bourse. Institutional investors, who were net buyers in the early hours, turned to a net selling stance in afternoon trading, eventually offloading 66 billion won.

Tech heavyweights Samsung Electronics and SK hynix led the rally, each touching fresh highs.

Samsung Electronics closed at 138,900 won, up 800 won, or 0.58 percent, from the previous session. It earlier rose to an intraday high of 139,300 won on the Korea Exchange. Before the market opened, the tech giant surged as high as 140,200 won in premarket trading on Nextrade, an alternative trading system.

SK hynix was quoted at 726,000 won, gaining 30,000 won, or 4.31 percent, as of closing. It earlier rose to an intraday high of 727,000 won. The stock opened lower, pressured by profit-taking, but soon reclaimed the 700,000 won level.

Following a standout annual gain of 76 percent in 2025, the Kospi has been extending its rally this year, surpassing 4,300 points on Friday, rising to the 4,400 level on Monday and hitting the 4,500 milestone the following day.

Local brokerage houses have raised their upside targets for the Kospi.

Kiwoom Securities on Tuesday lifted its annual forecast range for the benchmark index to 3,900–5,200 points, while Yuanta Securities raised its 2026 outlook band to 4,200–5,200.

Earlier, NH Investment & Securities set the upper end of its Kospi forecast at 5,500, while KB Securities said the index could break above 5,000 in the second half of this year and reach as high as 7,500 in the first half of 2027.

“The focus is set on how far the index can climb,” said Han Ji-young, an analyst at Kiwoom Securities. "Given the strength of earnings momentum, it is appropriate to leave room for further upside in the index.”