[Closing Market] KOSPI Rebounds Above 6,340 Amid Stronger Won
The domestic stock market started lower on Aug. 11 due to external uncertainties and the burden of weakness in leading semiconductor stocks in early trading. However, the market successfully turned upward across the board and closed the session as institutional and individual buying sequentially flo
On August 11, South Korea's KOSPI stock market started lower due to external uncertainties and a decline in leading semiconductor stocks. However, the index managed to turn upward throughout the day, closing at 6,345.53, a 0.73% increase from the previous session. Institutional and individual buying, along with easing foreign net selling pressure, contributed to the market's rebound.
The KOSDAQ index also overcame its early decline, closing at 857.84, a 0.39% increase from the previous day. The upward trend was driven by strong performances in key sectors such as pharmaceuticals, biotechnology, and secondary batteries. Samsung Electronics and SK Hynix, initially affected by global semiconductor risks, later saw recovery as investors recognized the potential of the special purpose company funded by SK Hynix and advancements in AI memory.
The won exchange rate against the dollar also showed a slight downward trend, closing at 1,416.0 won, down 2.4 won from the previous trading day. Despite a strong global dollar, the Korean stock market's rebound and export companies' carry-over negotiation volumes contributed to the steadier exchange rate.
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