Kosdaq soars 7% while KOSPI gains modestly

Monday saw the Kosdaq experience a notable surge, climbing over 6 percent to surpass the 850 mark. This marked a significant increase from the KOSPI's modest 0.65 percent gain, which brought the benchmark index to close at 6,299.66 after a 0.33 percent rise at its opening. The market's movement followed a two-day downtrend, indicating a turnaround for investors.

Foreign investors sold a substantial 1.5 trillion won worth of shares, while retail and institutional investors made net purchases amounting to 899.8 billion won and 567.4 billion won, respectively. Notable declines were seen in SK hynix, which fell 0.14 percent to 1,420,000 won, and Samsung Electronics, dropping 0.43 percent to 230,000 won.

The recent U.S. nonfarm payrolls data, showing a decline of 23,000 jobs in July, was below market forecasts of a 100,000 job increase. This data eased worries about additional interest rate hikes, bolstering the appeal of riskier assets. Despite this positive sentiment, concerns lingered regarding chipmakers, particularly in light of reports suggesting Apple might switch to memory chips sourced from China's CXMT.

Additionally, expectations for renewed U.S.-Iran talks appeared to wane, as President Donald Trump expressed willingness to end the conflict without a nuclear deal if it meant ensuring freedom of navigation through the Strait of Hormuz.