The KOSPI closed at 8,788.38 (+3.68%) as investor sentiment improved, driven by positive economic data and a rebound in technology stocks. This significant uptick signals a renewed confidence in the market, particularly as the index approaches its 52-week high, indicating potential bullish momentum.

Technically, the KOSPI is well positioned above both the 20-day simple moving average (SMA-20) at 7,703.92 and the 50-day simple moving average (SMA-50) at 6,604.16, reinforcing the strength of the current upward trend. The relative strength index (RSI) stands at 66.1, placing it in neutral territory, suggesting that while the market is strong, it is not yet overbought.

Looking ahead, the KOSPI faces resistance at the 52-week high of 8,788.38, while support is established at the previous close of 8,476.15. A sustained move above the current level could signal further gains, while a drop below the support level may indicate a need for caution.