KOSPI reaches record high as rally continues

The KOSPI extended its rally for a fourth straight trading session this year, setting another all-time high. After falling below the 2,300 level on April 9 last year, the benchmark index has doubled in nine months, with the early-year rally showing little sign of losing momentum.

On Jan. 7, the KOSPI closed at 4,551.06, up 0.56 percent, or 25.58 points, from the previous session. During morning trading, the index briefly surpassed the 4,600 mark for the first time on record. Foreign investors led the advance, posting net purchases worth 1.206 trillion won on the day.

South Korean stocks followed gains on Wall Street after major companies unveiled artificial intelligence road maps at CES 2026, the world’s largest consumer electronics and information technology exhibition. On Jan. 6 local time, the Dow Jones Industrial Average rose 0.99 percent to 49,462.08, closing above the 49,000 mark for the first time.

Shares of Hyundai Motor Group affiliates surged broadly, led by Hyundai Motor, which jumped 14 percent after unveiling a humanoid robot powered by artificial intelligence and capable of humanlike movement at CES 2026. Hyundai AutoEver soared 26.3 percent, while Kia advanced 5.2 percent. Samsung Electronics rose 1.5 percent, closing above the 140,000 won level for the first time, and SK hynix added 2.2 percent, briefly topping 760,000 won during intraday trading for the first time.

In contrast, the KOSDAQ fell 0.90 percent to 947.39, extending losses for a second consecutive session. Some market participants cautioned that the rally, driven largely by heavyweight semiconductor stocks, may be showing signs of short-term overheating.


지민구 warum@donga.com