KOSPI is displayed at the dealing room of Hana Bank in Seoul, Wednesday. The benchmark index closed at 8,864.24, up 137.64 points, or 1.58 percent, from the previous session. Yonhap
The benchmark KOSPI closed at an all-time high of 8,864.24 on Wednesday, moving within striking distance of the 9,000 milestone after rebounding sharply from early losses.
SK hynix led the surge, hitting a fresh all-time high above the 2.5 million won ($1,653.66) mark, backed by expectations for expanded shareholder returns, a strong growth outlook for high-bandwidth memory and hopes for a U.S. listing of American depositary receipts.
According to the Korea Exchange, the benchmark KOSPI finished at 8,864.24, up 1.58 percent from the previous session, closing at an all-time high. It fell short of the intraday record of 8,933.62 set on June 2.
Foreign investors sold a net 990 billion won worth of shares. But institutional and retail investors bought a net 577.7 billion won and 543 billion won, respectively, helping the index reverse early losses and close higher.
