KOSPI Index Rebounds Above 4000 Amid Positive Market Changes
The KOSPI index has recovered the 4000 mark just a day after it fell below that threshold on October 7. This rebound is attributed to the impending resolution of the longest government shutdown in the U.S. as well as a favorable adjustment to the highest tax rate on dividend income. Analysts suggest that the revised tax proposal is creating conditions conducive for a steady inflow of foreign investment.
On October 10, the KOSPI index closed at 4073.24, marking a 3.02% increase. Institutional investors significantly boosted the index by purchasing 1.3085 trillion won worth of stocks in the securities market.
The notable rise in the KOSPI compared to other Asian countries on this day was largely due to the news that the highest tax rate on dividend income would be lowered. The government and the ruling party have come to an agreement to reduce this rate from 35% to 25%. This has led to a surge in the prices of representative high-dividend stocks, particularly in the holding and financial sectors.
On this day, the KRX stock index skyrocketed by 6.32%, achieving the highest growth rate among all indices. KB Financial saw its stock price rise sharply, hitting a peak of 132,500 won during trading, thereby setting a new 52-week high. Other holding companies, such as SK and HD Hyundai, also experienced significant gains, with stock prices rising by 9.29% and 6.51%, respectively.
Additionally, on October 8, Jensen Huang, CEO of NVIDIA, mentioned an increasing demand for wafers from TSMC, which spurred a broad rise in AI-related stocks. SK Hynix ended the day trading at 606,000 won, marking a 4.48% increase and reclaiming the 600,000 Won Hynix status.
Experts anticipate that the reduction in the highest tax rate on dividend income will lead to a consistent influx of foreign capital into the domestic stock market. While the rapid rise in the domestic stock market may lead to increased short-term volatility due to profit-taking until the end of the year, the conditions for a long-term upward trend have been established.
On October 10, the KOSPI index closed at 4073.24, marking a 3.02% increase. Institutional investors significantly boosted the index by purchasing 1.3085 trillion won worth of stocks in the securities market.
The notable rise in the KOSPI compared to other Asian countries on this day was largely due to the news that the highest tax rate on dividend income would be lowered. The government and the ruling party have come to an agreement to reduce this rate from 35% to 25%. This has led to a surge in the prices of representative high-dividend stocks, particularly in the holding and financial sectors.
On this day, the KRX stock index skyrocketed by 6.32%, achieving the highest growth rate among all indices. KB Financial saw its stock price rise sharply, hitting a peak of 132,500 won during trading, thereby setting a new 52-week high. Other holding companies, such as SK and HD Hyundai, also experienced significant gains, with stock prices rising by 9.29% and 6.51%, respectively.
Additionally, on October 8, Jensen Huang, CEO of NVIDIA, mentioned an increasing demand for wafers from TSMC, which spurred a broad rise in AI-related stocks. SK Hynix ended the day trading at 606,000 won, marking a 4.48% increase and reclaiming the 600,000 Won Hynix status.
Experts anticipate that the reduction in the highest tax rate on dividend income will lead to a consistent influx of foreign capital into the domestic stock market. While the rapid rise in the domestic stock market may lead to increased short-term volatility due to profit-taking until the end of the year, the conditions for a long-term upward trend have been established.
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