KOSPI 7000 Era Opens as Brokerage Earnings Momentum Draws Focus

South Korean brokerage shares are rallying after the KOSPI crossed the 7000 mark for the first time, opening what local investors call the “7000 KOSPI” era. According to the Korea Exchange, the KRX Securities Index rose 17.89% over the week through May 6, the strongest gain among all KRX indexes. Yuanta Securities Korea, Samsung Securities, Mirae Asset Securities, Hanwha Investment & Securities, Korea Investment Holdings and Kiwoom Securities all advanced. Average daily trading value on the KOSPI and Kosdaq markets reached 68.2861 trillion won this month, while investor deposits stood at 124.8406 trillion won as of May 4, up 42.14% from the end of last year. The launch of integrated foreign investor accounts and a semiconductor-led bull market are also cited as positives. Source: hankyung.com reported that brokerages expect second-quarter trading value to remain solid.