The KOSPI index rebounded dramatically, closing at a record high after initially dropping below 7,400. The index finished above 7,800, buoyed by buying from individual and institutional investors.
On May 13, the Korea Exchange reported that the KOSPI closed at 7,844.01, up 200.86 points (2.63%) from the previous trading day. The index opened at 7,513.65, down 129.50 points (1.69%), and fell to the 7,400 level shortly after the market opened but quickly reversed its losses.
Lee Kyung-min, a researcher at Daishin Securities, noted, "Domestic risks have eased, and expectations ahead of the upcoming U.S.-China summit have led to a successful turnaround. Samsung Electronics, SK Hynix, and SK Square all started lower but turned positive and expanded their gains."
Seo Sang-young, a researcher at Mirae Asset Securities, commented, "The market appears to be more sensitive to short-term supply and news flow than macroeconomic variables. Therefore, for the time being, changes in supply and demand focused on specific sectors and large-cap stocks are likely to determine the direction of the index, and we expect continued volatility during trading hours."
In the securities market, individuals and institutions made net purchases of 1.8869 trillion won and 1.6873 trillion won, respectively, driving the index's rebound. In contrast, foreign investors sold a net 3.7583 trillion won.
Major stocks generally showed strength. Samsung Electronics, which initially fell over 5%, managed to rebound and closed at 284,000 won, up 1.79% from the previous day. SK Hynix also started weak but turned positive, closing at 1,976,000 won, up 7.68%. During the day, it reached as high as 1,990,000 won, setting a new record.
Other notable gainers included SK Square (5.68%), Hyundai Motor (9.91%), HD Hyundai Heavy Industries (3.68%), Samsung Electro-Mechanics (7.41%), and Kia (6.65%). Conversely, LG Energy Solution (-2.93%), Doosan Enerbility (-4.46%), and Samsung C&T (-1.49%) saw declines.
The KOSDAQ index closed at 1,176.93, down 2.36 points (0.20%) from the previous day. After a weak start, the index attempted to rebound but ultimately closed lower due to continued foreign selling.
In the KOSDAQ market, foreign and institutional investors sold a net 601.9 billion won and 2.9 billion won, respectively. Meanwhile, individual investors made net purchases of 604.8 billion won, indicating a willingness to buy on dips.
The performance of large-cap stocks was mixed. EcoPro BM (-4.09%), EcoPro (-3.36%), Kolon TissueGene (-11.53%), and Samchundang Pharm (-3.86%) declined, while Alteogen (3.51%), Rainbow Robotics (2.69%), Rino Technology (3.60%), JUSUNG Engineering (7.69%), and Wonik IPS (4.96%) finished higher.
* This article has been translated by AI.
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