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Kospi closes at fresh record above 6,400 on corporate earnings outlook

Published: 22 Apr. 2026, 16:37

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing on April 22. [YONHAP]

Korean stocks rose to a fresh record high on Wednesday, settling above the 6,400 level, as sound corporate earnings outlook outshone lingering uncertainty surrounding U.S.-Iran peace talks. The local currency fell against the U.S. dollar.

After choppy trading, the benchmark Kospi rose 29.46 points, or 0.46 percent, to close at a new record high of 6,417.93, marking gains for three consecutive sessions and surpassing its previous record of 6,388.47 set on Tuesday.

The index opened slightly lower as investors remained cautious about developments in the Middle East, even after U.S. President Donald Trump said he would extend the cease-fire until Tehran submits a "unified proposal."

Trade volume was heavy at 892.4 million shares worth 30.7 trillion won ($20.8 billion), with losers beating gainers 464 to 396.

Individual investors led the record-breaking rally, purchasing a net 1.24 trillion won worth of stocks, while foreigners and institutions sold a net 674.9 billion won and 444.4 billion won, respectively.

On Wall Street, U.S. stocks fell after U.S. Vice President JD Vance called off a trip to Pakistan, where Washington and Tehran had been expected to hold negotiations. The Dow Jones Industrial Average fell 0.59 percent, and the Nasdaq composite declined 0.59 percent.

"Following Trump's cease-fire extension announcement, investors off-loaded market heavyweights, such as Samsung Electronics and SK hynix, for bargain hunting," Kang Jin-hyuk, an analyst at Shinhan Securities, said.

"Battery and electronics components shares led the market advance as they are widely expected to report strong first quarter earnings."

Leading battery maker LG Energy Solution rose 1.36 percent to 484,500 won, and Samsung SDI gained 2.17 percent to 659,000 won.

Samsung Electro-Mechanics, an electronic components and modules affiliate of Samsung Group, jumped 5.18 percent to 812,000 won, and power systems company LS Electric advanced 5.14 percent to 194,200 won.

Defense companies closed in positive territory as industry leader Hanwha Aerospace rose 1.8 percent to 1.4 million won and LIG D&A surged 12.21 percent to 1.02 million won.

Shipbuilders were also strong as HD Hyundai Heavy Industries soared 11.28 percent to 641,000 won and Hanwha Ocean added 2.9 percent to 135,000 won.

However, semiconductor shares finished lower, with Samsung Electronics down 0.68 percent to 217,500 won and SK hynix down 0.08 percent to 1.2 million won. SK hynix is set to release its first-quarter earnings this week.

Major banking group KB Financial Group slid 1.87 percent to 157,400 won, and food giant CJ CheilJedang dropped 1.47 percent to 234,000 won.

The local currency weakened by 7.5 won to trade at 1,476 won against the greenback at 3:30 p.m.

Yonhap