KOSPI Rises 4.1 Percent as Tech Stocks Rally
The KOSPI index rebounded 4.1 percent on Wednesday, driven by gains in Samsung Electronics and SK hynix amid anticipation of Meta Platforms earnings.
The Korea Composite Stock Price Index (KOSPI) rose 4.1 percent to reach 5,780.67 on Wednesday, recovering from a nearly 4 percent decline in the previous session. The rally was led by a surge in technology stocks, with Samsung Electronics jumping 7.09 percent and SK hynix climbing 7.2 percent.
Investor interest was driven by strong technology earnings and anticipation of upcoming reports from Meta Platforms. The rapid ascent triggered a buy-side sidecar at 10:51 a.m., leading the Korea Exchange to temporarily suspend program trading orders for five minutes following a sharp rise in KOSPI 200 Futures.
Institutional and foreign investors acted as net buyers during the session, while retail investors sold a net 1 trillion won. Beyond the tech sector, Korean Air and Hyundai Steel recorded gains, while Hyundai Motor and POSCO Holdings experienced slight declines.
