KOSPI Closes at Record High as Retail Investors Buy W10tn in Chip Stocks

The KOSPI closed on the 13th at its highest level ever on a closing basis. In the market, foreign investors moved to take profits, while retail investors were reported to have recently bought about W10tn worth of semiconductor shares, including Samsung Electronics. The original report said retail buying gathered in Samsung Electronics, which had drawn little attention when it traded around W60,000. Still, the record index level did not mean broad market strength. The number of declining stocks was more than twice the number of advancing stocks, showing a mixed market tone. Future flows in chip shares and whether foreign selling continues are key points to watch. Source: mk.co.kr