KOSPI nears 6,000 after US court decision

Feb 24, 2026, 07:26 am

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The KOSPI surpasses the 5,900 mark at the KB Kookmin Bank dealing room in Yeouido, Seoul. / KB Kookmin Bank

South Korea’s benchmark KOSPI extended its rally on Feb. 23, breaking above the 5,900 mark for the first time intraday, buoyed by a U.S. Supreme Court ruling that blocked tariff measures under the International Emergency Economic Powers Act (IEEPA).

According to the Korea Exchange, the KOSPI closed at 5,846.09, up 37.56 points, or 0.65%, from the previous session. The index opened at 5,903.11 and climbed as high as 5,931.86 during the session, marking a fresh all-time high.

Investor sentiment was supported by the U.S. court’s decision to curb tariff actions based on IEEPA. On Wall Street, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite rose 0.47%, 0.69% and 0.9%, respectively.

In the local market, retail and institutional investors were net buyers, purchasing 1.353 trillion won and 48.3 billion won worth of shares, respectively, helping support the index. Foreign investors, however, turned net sellers, offloading 1.537 trillion won in shares to lock in profits.

Among large-cap stocks, Samsung Electronics gained 2,900 won (1.53%) to close at 193,000 won, while SK Hynix rose 2,000 won (0.21%) to 951,000 won. Hyundai Motor posted the biggest gain among the top 10 stocks, climbing 2.75% to 523,000 won.

Late in the session, several stocks hit their daily upper limits on company-specific news, including Daewon Cable Preferred, Daewon Cable, Mirae Asset Life Insurance and Samwha Capacitor.

Brokerages expect the KOSPI to consolidate recent sharp gains before attempting to firmly establish itself above the 5,900 level. Market attention is now focused on whether the index can break through the psychological milestone of 6,000.

#KOSPI #Korea Exchange #US Supreme Court #IEEPA #Dow Jones