The KOSPI has begun to recover after initially plunging into a "panic selling" phase. Following a drop below 7400, which triggered a circuit breaker, buying interest from institutions and individual investors helped the index bounce back above 7800. Notably, shares of Naver and SK Telecom surged, driven by expectations of collaboration with NVIDIA in artificial intelligence (AI).
As of 12:04 PM, the KOSPI was down 389.62 points (4.77%) at 7770.97. Earlier in the day, the index fell more than 8%, prompting the activation of both a circuit breaker and a sell-side circuit. However, it has since reduced its losses.
In the securities market, individual and institutional investors recorded net purchases of 652.6 billion won and 476.9 billion won, respectively, while foreign investors sold a net 1.2492 trillion won.
Leading semiconductor stocks also showed signs of recovery after early declines. Samsung Electronics dropped to the 290,000 won range before rebounding to 310,000 won, reducing its loss to around 4%. SK Hynix also recovered from the 1.9 million won range to 2.02 million won.
Market analysts are highlighting the impact of NVIDIA CEO Jensen Huang's visit to South Korea. Naver's shares surged by over 11% due to optimism surrounding its AI partnership with NVIDIA, while SK Telecom saw an increase of nearly 5%. Investors are increasingly perceiving the early losses as excessive, leading to a wave of bargain hunting in related stocks.
The KOSDAQ index, however, continued to struggle. At the same time, the KOSDAQ was down 61.30 points (6.12%) at 941.14. While institutions recorded a net purchase of 115.9 billion won, individual and foreign investors sold a net 41.2 billion won and 44 billion won, respectively.
Among the top market capitalization stocks, major declines were observed with Samchundang Pharm (-16%), Alteogen (-10%), EcoPro (-9%), EcoPro BM (-8%), and Kolon TissueGene (-8.8%).
* This article has been translated by AI.
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