Both KOSPI and KOSDAQ Soar to New Heights
On the 6th, South Koreaβs stock market closed with the KOSPI reaching its highest level in four years. The KOSDAQ also climbed 1.26%, ending at 957 points.
Samsung Electronics jumped 7.47%, hitting an all-time high above 130,000 won (roughly $1000). SK Hynix also gained 2.81%, approaching the 700,000 won mark (around $530).
Semiconductors and Auto Stocks Lead the Rally
Most of the top market cap stocks saw gains. Companies like LG Energy Solution and Hyundai Motor also performed strongly, contributing to the overall market boost.
The USD/KRW exchange rate edged up by 2 won, closing at around 1,330 won per dollar. Analysts say the solid export performance in December helped fuel the stock market rally.
Chinese Company Files for IPO in Shanghai
A Chinese firm named Yeje has applied for an IPO on the Shanghai Stock Exchange. They plan to raise about 6 trillion won (roughly $4.5 billion) based on last year's revenue.
The company submitted documents aiming to raise 300 billion yuan (approximately $45 billion) for their IPO.
Global Market Boosted by Geopolitical Factors
Despite military tensions in Venezuela, the global financial markets remained resilient. Reduced fears of geopolitical risks acted as a positive catalyst for stocks.
Meanwhile, discussions continue as former President Trumpβs allies warn of potential further cooperation, adding some uncertainty to the geopolitical landscape.
Key Economic Indicators Released
The Chosun Ilbo published key economic data on the 6th, highlighting hopeful signs for SK and other companies, along with recent regional management changes.
- Controversy over SK managers being transferred to regional offices
- Viral story about a Chinese artist creating a golden picture frame for Xi Jinping
- Incidents involving banners related to Samsung TVs
Political Reactions
68 Democratic Party lawmakers issued a statement criticizing the Venezuela military operation, warning it threatens international peace.
They called for adherence to international law, citing procedural issues with the operation and urging caution in foreign military actions.
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