Kospi Reclaims 8,000 in One-Day Rebound, Closes at 8,096.93
Summary
- The Kospi staged a sharp rebound, reclaiming the 8,000 level to close at 8,096.93 and rising as high as 8,119.09 during the session.
- Institutions bought a net 2.9142 trillion won worth of shares, driving the index higher, while foreign and retail investors sold a net 1.9127 trillion won and 1.1475 trillion won, respectively.
- Large-cap names tied to AI infrastructure investment, including Samsung Electronics and SK Hynix, as well as semiconductor, biotech, and materials-parts-equipment stocks, surged to lift both the Kospi and Kosdaq.
Forecast Trend Report by Period
The Kospi reclaimed the 8,000 level on June 9 and finished just below 8,100, rebounding a day after it fell through 7,500 as institutional investors stepped in to buy.
The benchmark index closed up 612.52 points, or 8.18%, at 8,096.93.
The Kospi briefly lost steam after a buy-side sidecar, a temporary curb on program buy orders, was triggered at 9:12 a.m. It regained momentum around midday and rose as high as 8,119.09, topping 8,100 during the session.
A day earlier, a circuit breaker halted trading on the Kospi market for 20 minutes as the index plunged 8.29%.
On the main board, institutions bought a net 2.9142 trillion won worth of shares, driving the rebound. Foreign and retail investors sold a net 1.9127 trillion won and 1.1475 trillion won, respectively.
Most large-cap stocks advanced.
Samsung Electronics jumped 8.97%, SK Hynix surged 15.91%, SK Square gained 13.51%, and Samsung Electro-Mechanics climbed 18.39%. Large-cap stocks tied to artificial intelligence infrastructure investment led the rebound. Samsung Life Insurance and Samsung C&T rose 4.66% and 5.02%, respectively.
The gains followed a rally in US semiconductor stocks overnight. Micron Technology rose 9.87%, while the Philadelphia Semiconductor Index added 5.61%.
Hyundai Motor was unchanged, while Kia advanced 8.52%.
HD Hyundai Heavy Industries fell 1.45%.
The Kosdaq closed up 56.42 points, or 6.19%, at 967.81. A buy-side sidecar was also triggered in that market at about 9:28 a.m.
Most of the Kosdaq's top stocks by market capitalization also rose.
Alteogen soared 12.78% after news that ATL-B4 had secured a European patent registration. Other biotech shares were also strong, with Kolon TissueGene up 15.23% and Cheptron gaining 6.29%.
Among semiconductor materials, parts and equipment stocks, Leeno Industrial jumped 16.33% and Wonik IPS climbed 13.54%.
In Seoul's foreign-exchange market, the won was trading at 1,515.3 per dollar, down 11.2 won, or 0.73%, from the previous session.
Han Gyeong-u, Hankyung.com reporter case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
