▲ The Kospi is displayed on an electronic board at the dealing room of Hana Bank's headquarters in Jung-gu, Seoul, on the 4th.
The Kospi rebounded to recover the 6,300 range today (the 4th) after experiencing a roller-coaster session with fluctuating tides.
The Kosdaq index surged nearly 6%, triggering a buy sidecar for the third consecutive trading session for the first time in history.
The Kospi closed up 101.50 points, or 1.62%, at 6,358.95 compared to the previous session.
The index started 93.93 points (1.50%) higher at 6,351.38 and expanded its gains to as high as 6,389.40, but later turned downward and briefly plunged to 6,080.25.
After fluctuating back and forth, it turned upward late in the session.
Previously, the Kospi plummeted 5.12% to close at 6,257.45 the day before, but turned upward in just one day.
In the Kospi market, individual investors net purchased 818.6 billion won, while foreign and institutional investors showed a selling dominance of 369.9 billion won and 539.4 billion won, respectively.
Foreign investors showed a net buying trend early in the session but turned to selling during trading hours.
Foreign investors also net sold 172.1 billion won in the Kospi 200 futures market.
The domestic stock market atmosphere was pressured upward early in the session due to the strength of New York equities overnight.
Earlier overnight, major New York stock indices rose across the board as tech stocks continued their strength.
The Dow Jones Industrial Average rose 1.32% from the previous session, while the S&P 500 and Nasdaq indices rose 1.48% and 2.13%, respectively.
International oil prices also showed stability.
Amid eased geopolitical tensions between the U.S. and Iran, West Texas Intermediate (WTI) futures for delivery in the U.S. fell 5.1% to close at $80.34 per barrel.
Accordingly, the domestic stock market also started higher, soaring near the 6,390 threshold early in the session, seemingly recovering from the previous day's sharp drop.
However, as Samsung Electronics, which had risen early in the session, turned downward, the index reduced its gains. Even SK Hynix shifted to a downward trend, dragging the index into negative territory.
The shift was driven by news that Chinese memory semiconductor company Changxin Memory Technologies (CXMT) is pushing to build a new memory semiconductor plant in Beijing, which fueled concerns over expanding memory supply going forward.
Around 11 a.m. that morning, strong buying by individuals and foreign investors drove another upward transition, but foreign investors soon shifted back to selling, turning the index downward.
Afterwards, strong buying centered on semiconductor stocks rushed in near the end of the session, sustaining volatility as it turned upward once again.
Among top market cap stocks, Samsung Electronics (0.21%) and SK Hynix (0.64%), which had plunged over 8% the previous day, finished with upward turns after experiencing fluctuations.
Hanwha Solutions (8.06%) also surged on news of Hanwha Group Vice Chairman Kim Dong-kwan's participation in a paid-in capital increase, while SK Square (3.41%), Samsung Biologics (3.72%), and Hanwha Aerospace (9.25%) also rose.
The Kosdaq index closed up 43.37 points, or 5.88%, at 780.72.
Following an 11% surge on July 31 and a 2.4% gain the previous day, the Kosdaq index extended its upward streak for the third consecutive session today.
The gain over the three trading sessions reaches 21%.
The Kosdaq index started 10.84 points (1.47%) higher at 748.19 and expanded its gains.
During the session, it spiked as high as 780.85.
Amid the surging market, a Kosdaq buy sidecar was triggered for the third straight session around 10:47 a.m.
This marks the 30th Kosdaq sidecar triggered this year.
According to the Korea Exchange, it is the first time in history that a buy sidecar has been triggered for three consecutive trading sessions in the Kosdaq market.
This appears to be the result of rotation trading within the Kosdaq market while the upward momentum of large-cap semiconductor stocks stalled.
Some market participants analyze that authorities' measures, such as raising the basic deposit for single-stock leverage products, accelerated rotation trading into Kosdaq.
(Photo: Yonhap News)
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