South Korean equities surged to a fresh record on January 6, with the benchmark KOSPI closing above the 4,500 mark for the first time, buoyed by renewed strength in technology shares alongside sharp gains in brokerages, defence and shipbuilding groups, the Yonhap News Agency reports.

The index rose 1.5% to end the session at 4,525.48, extending momentum from the previous day when it had already pushed past 4,400. The advance came despite a cautious start that diverged from overnight gains on Wall Street, as early profit-taking in technology stocks gave way to sustained buying later in the session.

Retail investors played a decisive role, emerging as net buyers of nearly KRW600bn ($414.2mn) of shares, more than offsetting selling by foreign and institutional investors. Overseas funds, which had accumulated more than KRW2.8 trillion of equities over the prior two sessions, shifted to net selling as valuations climbed.

According to Yonhap, large-cap technology names underpinned the rally. Samsung Electronics edged higher, while memory chipmaker SK hynix recorded a strong advance as enthusiasm for semiconductors resurfaced. Shares in shipbuilders and defence contractors also outperformed, reflecting optimism over robust order books and earnings prospects this year. HD Hyundai Heavy Industries rose sharply, while Korea Aerospace Industries and Hanwha Aerospace also posted solid gains. Brokerage stocks joined the rally, led by a double-digit rise in Mirae Asset Securities.

The session was marked by heavy trading, with turnover exceeding KRW25 trillion, although decliners slightly outnumbered advancers, underscoring selective rather than broad-based gains.

Elsewhere, the Korean won weakened marginally against the US dollar. In the bond market, government yields were mixed, with shorter-dated yields edging higher while longer maturities eased, suggesting investors remain cautious even as equities push into uncharted territory.