KOSPI Soars 17.9% to Regain 6,500 Mark... Record Daily Gain

[Anchor]

After falling for three consecutive sessions, the KOSPI surged 17.9% today (July 31) to reclaim the 6,500 mark, posting its largest daily gain in history. SK Hynix hit the daily upper limit with a 30% jump in a single day.

Reporter Baegun has the details.

[Reporter]

The KOSPI, which had dropped for three straight days, soared immediately after the opening bell today, swiftly breaking through the 6,000 line.

A buy sidecar was triggered just six minutes into the market opening, halting program buy orders for five minutes, and the sharp upward trend continued throughout the day.

The KOSPI closed at 6,595, surging more than 1,000 points with a gain of 17.9%.

This easily surpassed the previous record daily gain of 11.95% set on October 30, 2008, during the global financial crisis.

Foreigners and institutional investors drove the rally by net buying over 7 trillion won and 1 trillion won, respectively, while retail investors net sold over 8 trillion won, continuing their selling streak for a third day.

Overnight on Wall Street, the Philadelphia Semiconductor Index jumped more than 8% and major semiconductor stocks posted double-digit surges, a warm breeze that appeared to carry over into the domestic market.

SK Hynix hit the daily upper limit with a 30% spike in a single day to recover to 1.71 million won, while Samsung Electronics also climbed more than 26% to the 260,000-won range.

Other top market-cap stocks, including SK Square and Samsung Electro-Mechanics, also rallied across the board.

The KOSDAQ index triggered a buy sidecar six minutes after the opening and maintained its upward momentum, closing 11.6% higher at 719.

Meanwhile, supplementary measures by financial authorities regarding single-stock leverage ETFs, which had been blamed as the main culprit behind increased volatility, also went into effect today.

As a result, the basic deposit requirement has been raised to 30 million won, and substitute securities such as stocks and bonds, which were previously recognized up to 70% of their market value, are no longer accepted.

(Camera: Kim Hyun-sang, Video Editing: Lee So-young)
※ Please note: This article was translated by AI and may contain errors.