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Kospi starts 2026 bullish with 2.27% climb to surpass 4,300 mark for first time

Published: 02 Jan. 2026, 18:45 Updated: 02 Jan. 2026, 18:46

Kospi reading is displayed on an electronic board at the Korea Exchange in Yeouido, western Seoul, on Jan. 2. [NEWS1]

Korean stocks surged more than 2 percent on Friday, with the Kospi jumping 95.46 points, or 2.27 percent, to close at a record high of 4,309.63 as large-cap semiconductor shares led the rally.

The previous record was set on Nov. 3 of last year, when the index closed at 4,221.87 amid strong optimism over AI-driven growth.

The index opened 10.36 points, or 0.25 percent, higher at 4,224.53 and maintained an upward trajectory throughout the session. At around 2:36 p.m., it jumped 2.06 percent to 4,301.18, breaking past the uncharted 4,300 mark for the first time, and continued to build gains to reach as high as 4,313.55 just ahead of the close.

Trade volume was moderate at 400.33 million shares worth 17.27 trillion won ($11.97 billion), with losers beating winners 522 to 371.

The index started the session on a higher note and extended its gains further, as offshore investors shifted to a net buying mode.

Foreign investors bought a net 644.68 billion won worth of shares, while individuals and institutions sold a net 454.43 billion won and 233.37 billion won worth of shares, respectively.

Analysts said strong exports helped offset pressure from recent weakness in U.S. equities, while investors bet on continued momentum driven by AI.

Samsung Electronics Executive Chairman Lee Jae-yong inspects the company's semiconductor R&D center in Giheung, Gyeonggi, on Dec. 22. [SAMSUNG ELECTRONICS]

In 2025, exports reached an all-time high of $709.7 billion, surpassing the landmark $700 billion mark for the first time on the back of the growth of AI and the semiconductor industry, government data showed.

"The Kospi is expected to trade in a neutral-to-positive tone, supported by a virtuous cycle of global growth, sales and earnings, along with the government's full-scale efforts to stimulate the economy and the stock market," Kim Yong-gu, an analyst at Yuanta Securities, said.

On Wednesday, U.S. shares ended lower on the final trading day of 2025. The Dow Jones Industrial Average dropped 0.63 percent, while the tech-heavy Nasdaq composite slid 0.76 percent.

Big-cap tech shares led the upturn of the index.

Market bellwether Samsung Electronics soared 7.17 percent to 128,500 won, while chip giant SK hynix jumped 3.99 percent to 677,000 won, with both stocks hitting record highs.

A screen at the Korea Exchange's lobby in Yeongdeungpo District, western Seoul, shows the Kospi opening on Jan. 2, 2026. [YONHAP]

But leading battery maker LG Energy Solution slid 2.04 percent to 361,000 won, and major chemical firm LG Chem dipped 3.15 percent to 322,500 won.

Bio giant Samsung Biologics fell 0.71 percent to 1,683,000 won, but major biopharmaceutical company Celltrion spiked 11.88 percent to 202,500 won amid expectations for its record high quarterly earnings and on news that it completed the acquisition of a biopharmaceutical manufacturing plant in the United States from U.S. drugmaker Eli Lilly.

Carmakers finished mixed. Top automaker Hyundai Motor grew 0.67 percent to 298,500 won, while sister affiliate Kia decreased 0.99 percent to 120,600 won.

Leading shipbuilder HD Hyundai Heavy retreated 0.98 percent to 504,000 won, but its rival Hanwha Ocean went up 0.97 percent to 114,700 won.

Defense giant Hanwha Aerospace rose 0.53 percent to 946,000 won, while nuclear power plant builder Doosan Enerbility edged down 0.13 percent to 75,200 won.

Leading financial group KB Financial dipped 1.12 percent to 123,300 won, but internet portal operator Naver climbed 1.86 percent to 247,000 won. No. 1 steelmaker Posco lost 2.46 percent to 297,500 won.

The year’s first Kospi reading is displayed on an electronic board at the Korea Exchange in Yeouido, western Seoul, on the morning of Jan. 2, during the opening ceremony for the 2026 stock and derivatives markets. [JOINT PRESS CORPS]

The local currency weakened against the dollar.

The local currency was quoted at 1,441.8 won against the greenback at 3:30 p.m., up 0.19 percent from the previous session's quote of 1,439 won.

Bond prices, which move inversely to yields, ended higher. The yield on three-year Treasurys fell 1.8 basis points to 2.935 percent, while the return on the benchmark five-year government bonds dropped 1.1 basis points to 3.239 percent.

BY KIM JI-HYE, YONHAP [[email protected]]