Seoul, Jan 7 (NationPress) In an impressive continuation of momentum, Seoul stocks achieved a new record high for the fourth consecutive day, propelled by significant gains in the technology and automobile sectors on Wednesday after briefly surpassing the 4,600-point milestone. The Korean won experienced a decline against the US dollar.

The Korea Composite Stock Price Index (KOSPI) increased by 25.58 points, equivalent to 0.57 percent, closing at a historic high of 4,551.06, as per reports from Yonhap news agency.

The index saw a momentary rise above the 4,600-point threshold, reaching an intraday peak of 4,611.72.

On Tuesday, the KOSPI had already crossed the 4,500-point mark, finishing 1.52 percent higher at 4,525.48 due to favorable tech sector performance.

Trading activity was robust, with a volume of 548.38 million shares, valued at 28.83 trillion won (approximately US$19.9 billion), yet the number of declining stocks outpaced advancing ones at 683 to 199.

Foreign investors made net purchases of 1.25 trillion won worth of stocks, counterbalancing net sell-offs by both institutions and individuals, which amounted to 938.95 billion won and 294.59 billion won, respectively.

Lee Jae-won, an analyst at Shinhan Securities Co., stated, "The record growth in automobile, semiconductor, and shipbuilding sectors significantly contributed to the KOSPI's ability to briefly exceed the 4,600-point level and maintain a close above 4,500 for two consecutive sessions."

Leading the market surge were technology and auto shares. Technology giant Samsung Electronics saw an increase of 1.51 percent to reach 141,000 won, while SK hynix, a major player in the chip industry, surged 2.2 percent to 742,000 won.

The top automobile manufacturer, Hyundai Motor, skyrocketed 13.8 percent to 350,500 won, and its subsidiary, Kia, gained 5.55 percent to reach 129,300 won.

The automotive sector's rise followed Hyundai's unveiling of its humanoid robot, Atlas, at the recent CES tech show held on Monday (U.S. time).

In addition, HD Hyundai Heavy Industries, a leading shipbuilder, saw its shares climb 1.27 percent to 557,000 won following a series of premium ship orders.

Among the stocks that fell, Korean Air, the national airline, dropped 1.78 percent to 22,100 won, while Korea Electric Power Corp., a state-run utility, also fell by 1.78 percent to 49,600 won.

Notably, SK Innovation, a leading refining company, declined by 3.77 percent to 102,000 won, and LG Energy Solution, a battery manufacturer, decreased by 1.98 percent to 370,500 won.

As of 3:30 p.m., the local currency was quoted at 1,445.80 won against the U.S. dollar, marking a decrease of 0.3 won from the previous trading session.

Bond prices, which typically move in the opposite direction to yields, closed higher, with the yield on three-year Treasuries dropping by 3.8 basis points to 2.910 percent, while the yield on five-year government bonds fell by 5.9 basis points to 3.185 percent.