Kosdaq soars 7% while KOSPI gains modestly
KOSPI edged higher but failed to reclaim the 6,300 level, Monday, while the Kosdaq surged more than 6 percent to close above 850. The benchmark KOSPI closed 0.65 percent higher at 6,299.66 after opening up 0.33 percent, snapping a two-session losing streak. Foreign investors sold a net 1.5 trillion won ($1.06 billion) of shares, while retail and institutional investors bought a net 899.8 billion…
The Korea Times reports that the Kosdaq index surged by more than 6 percent on Monday, closing above 850, while the KOSPI index only managed to edge higher by 0.65 percent, failing to reclaim the 6,300 level. The KOSPI closed at 6,299.66, marking a turnaround from the previous two sessions of losses. Foreign investors sold a net 1.5 trillion won worth of shares, whereas retail and institutional investors bought shares in net amounts of 899.8 billion won and 567.4 billion won, respectively.
Among individual stocks, SK hynix and Samsung Electronics both experienced slight declines of 0.14 percent and 0.43 percent, respectively. The weak U.S. nonfarm payrolls report, which showed a decrease of 23,000 jobs in July, helped ease concerns about potential interest rate hikes and bolstered demand for riskier assets. However, sentiment toward chipmakers remained cautious due to reports that Apple was considering memory chips from China's CXMT. Additionally, hopes for renewed U.S.-Iran talks diminished.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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- Kosdaq soars 7% while KOSPI gains modestly koreatimes.co.kr
