ARTICLE:
South Korea's Kospi hits record close despite early volatility and foreign sell-offs
The Kospi and Kosdaq indexes are on display on a screen inside the trading room of Hana Bank in Jung District, central Seoul, on April 29.
Korean stocks extended their record-setting rally for a third straight session on Wednesday, even as foreign investors continued to pull money out of the market.
The benchmark Kospi closed at 6,690.90, up 49.88 points from the previous session, according to the Korea Exchange. The index notched another record closing high after reversing early losses.
It opened down 22.02 points at 6,619.00 and moved in and out of negative territory through the morning before gaining momentum in the afternoon session.
Foreign investors were net sellers, offloading about 606.9 billion won worth of local shares.
The tech-heavy Kosdaq also edged higher, rising 4.68 points to close at 1,220.26.
Meanwhile, the local currency weakened by 5.4 won, trading at 1,479 won per dollar as of the 3:30 p.m. close.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
