KOSPI surges 5.9% as chipmakers rally on shareholder returns
The KOSPI surged past 6,800 on Thursday, as SK hynix and Samsung Electronics rallied on expectations for increased shareholder returns and easing U.S. Treasury yields boosted risk appetite. The benchmark KOSPI closed at 6,852.58, up 5.89 percent from the previous session. The index opened 3.23 percent higher and extended its advance, triggering a buying-side sidecar at 9:57 a.m. It was the 49th…
The KOSPI index closed at 6,852.58 on Thursday, marking a 5.89% increase from the previous trading session. SK hynix and Samsung Electronics led the rally as investors anticipated higher shareholder returns. The benchmark index opened 3.23% higher, triggering a buying sidecar at 9:57 a.m. and marking the 49th such activation this year.
Foreign investors netted a purchase of 1.7 trillion won ($1.2 billion), while institutional and retail investors sold 219.5 billion won and 2.3 trillion won respectively. SK hynix's stock surged 12.73% to close at 1,691,000 won, while Samsung Electronics rose 9.49% to 271,000 won. The surge in demand was fueled by expectations of stronger shareholder payouts.
Responding to the previous day's session, SK hynix announced a 40 trillion won share buyback and cancellation program. The company also reinforced its shareholder return policy, pledging further measures to boost investor confidence.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- KOSPI surges 5.9% as chipmakers rally on shareholder returns koreatimes.co.kr