The KOSPI index, which faced fears of a 'Black Monday' following a sharp decline in U.S. markets, rebounded by over 2% during trading. The index recovered above the 5,800 mark, buoyed by significant net buying from institutional investors.
According to the Korea Exchange, as of 2:05 PM, the KOSPI was trading at 5,871.56, up 140.82 points (2.46%) from the previous trading day.
The KOSPI opened at 5,637.77, down 1.62% from the previous day. Following a 3.48% drop on October 30, concerns about further declines in the domestic market grew as selling pressure spread in the U.S. market, particularly among semiconductor stocks.
Doubts about the profitability of investments in artificial intelligence (AI) and weakness in U.S. tech stocks raised expectations of continued shocks to the domestic market on Monday. However, the KOSPI quickly reduced its losses after opening and successfully turned upward, expanding its gains to over 2% in the afternoon.
The rebound was primarily driven by institutional investors, who net purchased 1.2114 trillion won in the securities market, lifting the index. In contrast, individual and foreign investors sold a net 1.2193 trillion won and 389.9 billion won, respectively.
Among the top market capitalization stocks, semiconductor shares showed strength. Samsung Electronics rose 2.00%, while SK Hynix increased by 4.37%. SK Square also surged by 5.69%. Samsung Electronics preferred shares (1.61%) and Samsung Electro-Mechanics (0.50%) also saw gains.
Additionally, Hyundai Motor (1.42%) and Samsung Life Insurance (1.11%) recorded increases. Conversely, LG Energy Solution (-1.95%), Samsung Biologics (-2.82%), and KB Financial (-1.48%) showed weakness.
The KOSDAQ index also rose in tandem. At the same time, the KOSDAQ recorded an increase of 8.24 points (1.14%) to 732.62.
In the KOSDAQ market, institutions net purchased 44 billion won, while individuals and foreigners sold a net 6.8 billion won and 31.8 billion won, respectively.
Among the top market capitalization stocks, Alteogen (0.95%), EcoPro (1.66%), and EcoPro BM (0.44%) saw increases. HLB (3.00%), Simtech (6.34%), Wonik IPS (3.28%), and Juseong Engineering (1.76%) also performed well. However, Rainbow Robotics declined by 0.41%. The general investor subscription recorded a competition rate of 1,410.9 to 1, attracting about 4 trillion won in deposits.
* This article has been translated by AI.
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