On March 21, the KOSPI index closed at 2,754.86, marking a significant increase of 64.72 points, or 2.41 percent, compared to the previous day’s closing.
The KOSPI started at 2,731.18, up 41.04 points, or 1.53 percent, from the previous day’s closing, and it rose to 2,755.45 at one point during the trading session.
The KOSPI surpassed the 2,750 level for the first time in approximately two years since 2022. The previous peak was 2,759.20 on April 5, 2022. Individual investors in the KOSPI recorded the highest net selling of 2.91 trillion won (US$2.17 billion) in history. The previous highest net selling size was 2.49 trillion won on Feb. 2.
This is interpreted as the uncertainty about interest rates being resolved due to the results of the meeting of the Federal Open Market Committee of the Federal Reserve maintaining the possibility of a third interest rate cut this year. Additionally, the semiconductor boom originating from the United States is believed to have impacted the domestic stock market.
The KOSDAQ index closed at 904.29, marking an increase of 12.84 points, or 1.44 percent, compared to the previous trading day.