SEOUL, June 12 (AJP) - The KOSPI once again proved one of the world's most volatile major stock indexes, surging more than 7.6 percent Friday morning as hopes for a Middle East ceasefire and excitement surrounding SpaceX's Nasdaq debut sparked a broad-based rally in technology shares.
As of 10:57 a.m., the benchmark KOSPI was up 7.76 percent at 8,366.47 after opening 6.44 percent higher. The index earlier jumped as much as 8.50 percent to 8,424.13.
The sharp advance triggered a buy-side sidecar shortly after the opening bell, underscoring the extraordinary swings that have gripped Korean equities this week.
Investors also cheered news that Hanmi Semiconductor plans to invest 50 billion won ($37 million) in SpaceX, the world's largest private space company, ahead of its Nasdaq debut on Friday later in New York.
The move reinforced enthusiasm for AI infrastructure, advanced semiconductors and space-related growth themes, sending Hanmi Semiconductor shares soaring more than 14 percent.
Risk appetite was further boosted after U.S. President Donald Trump said a ceasefire agreement with Iran was nearing completion and announced the cancellation of planned military strikes, easing fears of a prolonged conflict that had rattled global markets earlier this week.
Foreign investors, persistent sellers throughout much of June, returned as net buyers, purchasing 568.5 billion won worth of shares on the main board. Institutional investors added another 393.4 billion won, while retail investors took profits, selling a net 921.2 billion won.
The Korean won also strengthened alongside equities, with the dollar falling to 1,519.40 won from the previous close of 1,528.90 won.
Chipmakers led the advance.
Samsung Electronics rose 10.54 percent to 330,500 won, extending its rebound above the 300,000-won mark, while SK hynix gained 7.76 percent to 2,264,000 won after briefly climbing above 2.3 million won.
The gains spread across other heavyweight stocks. SK Square jumped 8.47 percent, Samsung Electro-Mechanics advanced 5.10 percent, Hyundai Motor gained 5.36 percent, LG Energy Solution added 4.16 percent and Samsung Life Insurance climbed 7.53 percent.
The bullish mood spilled over into the junior KOSDAQ market, where the index rose 3.02 percent to 1,027.07, reclaiming the 1,000-point level. Rainbow Robotics surged 11.40 percent, EcoPro gained 6.71 percent, EcoPro BM rose 5.36 percent and Alteogen added 1.30 percent.
The rebound in Seoul mirrored a powerful overnight rally on Wall Street. The Dow Jones Industrial Average gained 1.86 percent, while the S&P 500 and Nasdaq Composite rose 1.75 percent and 2.54 percent, respectively.
U.S. semiconductor stocks also rallied sharply, reinforcing gains across Asian technology markets. Intel jumped 9.27 percent, Micron Technology surged 11.66 percent, SanDisk soared 14.50 percent and Nvidia added 2.22 percent.
The optimism extended across Asia. Japan's Nikkei 225 rose 2.68 percent to 65,941.08, Hong Kong's Hang Seng Index gained 1.45 percent to 24,602.06, and China's Shanghai Composite advanced 0.99 percent to 4,026.62.
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