The KOSPI index closed above the 8000 mark, buoyed by significant institutional buying. The index surged over 5% as bargain hunters focused on major semiconductor stocks, prompting a temporary trading halt due to a surge in program buying.
According to the Korea Exchange, the KOSPI finished the day at 8088.34, up 440.25 points (5.76%) from the previous trading day. The index started at 7,739.75, rising by 91.66 points (1.20%) before experiencing volatility but ultimately recovering above 8000.
After surpassing the 8000 threshold, buying momentum intensified, leading to a trading halt at 1:47 p.m. This marked the 16th trading halt triggered by buying in the KOSPI market this year.
Lee Kyung-min, a researcher at Daishin Securities, noted, "Strong rebound buying centered on large-cap semiconductor stocks led to a significant recovery. The focus on semiconductor stocks by institutions was particularly pronounced, resulting in a clear bullish trend."
The day's gains were primarily driven by institutional investors, who net purchased 4.46 trillion won ($3.4 billion) in the securities market, while individual and foreign investors sold 2.31 trillion won ($1.8 billion) and 2.19 trillion won ($1.7 billion), respectively.
Most of the top market capitalization stocks showed strong performance. Samsung Electronics rose 8.22%, SK Hynix increased by 10.88%, SK Square gained 4.20%, Samsung Electro-Mechanics was up 3.27%, Hyundai Motor rose 2.07%, LG Energy Solution increased by 2.40%, Samsung Life Insurance was up 3.37%, Samsung C&T gained 6.64%, and Samsung Biologics rose 1.07%.
The KOSDAQ also managed to close higher after a late rebound, finishing at 868.41, up 1.69 points (0.19%). The index opened at 875.18, up 8.46 points (0.98%) but fell shortly after opening before recovering in the afternoon.
In the KOSDAQ market, individuals net purchased 112.1 billion won ($85 million), while foreign and institutional investors sold 19 billion won ($14 million) and 103.9 billion won ($78 million), respectively.
Top KOSDAQ stocks showed mixed results. Alteogen fell 2.56%, EcoPro BM dropped 0.88%, Juseong Engineering plummeted 15.34%, and ABL Bio decreased by 0.62%. Conversely, EcoPro rose 0.46%, Rainbow Robotics gained 1.34%, Kolon TissueGene increased by 3.67%, Wonik IPS rose 1.14%, HLB gained 2.43%, and Rino Industry increased by 4.66%.
* This article has been translated by AI.
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