Investor sentiment in South Korea's stock market revived as technology stocks, particularly semiconductor shares, surged. Following a recent decline, bargain hunters entered the market, and foreign investors returned to net buying after eight trading days, leading both the KOSPI and KOSDAQ to record gains of over 4%.
According to the Korea Exchange, the KOSPI closed at 5,239.13, up 220.28 points (4.39%) from the previous trading day. The index opened at 5,247.22, rising by 228.37 points (4.55%) and maintained its upward trend. Due to the rapid increase in the index, a trading halt was triggered shortly after the market opened at 9:06 AM.
Market dynamics also contributed to the rebound. In the securities market, foreign and institutional investors net bought 632.6 billion won and 744.9 billion won, respectively. Notably, foreign investors, who had been net sellers for seven consecutive trading days, shifted to buying, improving market liquidity. Meanwhile, individual investors net sold 1.8289 trillion won, taking profits in the rising market.
Major stocks also showed strong performance. Samsung Electronics rose 4.74%, nearing the 200,000 won mark, while SK Hynix climbed 6.69%, recovering above 1,200,000 won. Other notable gainers included SK Square (5.26%), LG Energy Solution (3.93%), and Samsung Electro-Mechanics (4.63%). Lee Kyung-min, a researcher at Daishin Securities, noted, "The strong rebound was driven by bargain hunting following recent declines and easing macroeconomic pressures."
The KOSDAQ market also experienced significant gains, closing at 667.61, up 28.64 points (4.48%) from the previous day. The rapid rise in the index led to a temporary suspension of program buying orders around 9:10 AM as KOSDAQ 150 futures and the spot index surged.
The rebound in the stock market was influenced by the strong performance of technology stocks on Wall Street the previous night. Bargain hunters focused on semiconductor stocks, which had recently seen declines, driving up technology shares overall. AMD surged by 13.26%, while Broadcom and Marvell Technology rose by 8.78% and 9.49%, respectively. The Philadelphia Semiconductor Index also rebounded by 6.86%.
* This article has been translated by AI.
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