KOSPI ends slightly higher after intraday swings
The benchmark KOSPI closed slightly higher Thursday, following a choppy session in which the main index plunged nearly 2 percent during afternoon trading. The KOSPI opened 1.33 percent higher at 6,650.33 and initially extended its gains before reversing sharply around 2 p.m. It fell to the 6,400 range before rebounding to close at 6,579.48, up 16.76 points, or 0.26 percent, from the previous…
The Korean benchmark index, the KOSPI, ended marginally higher on Thursday after a volatile trading session. The index initially surged 1.33 percent to reach 6,650.33, but then swiftly reversed around 2 p.m., plummeting to the 6,400 range. It subsequently rebounded and closed at 6,579.48, marking a gain of 16.76 points, or 0.26 percent, compared to the prior day's close.
Retail investors were the primary drivers of the selling, with a net outflow of 955 billion won ($703 million). Conversely, foreign investors and institutions contributed to the decline, selling a combined net of 638.6 billion won and 215.2 billion won, respectively. Only corporations managed to offset the selling pressure by buying shares, with a net purchase of nearly 1.6 trillion won, which helped temper the overall downward momentum.
Key corporations such as Samsung Electronics and SK hynix have been utilizing share buybacks to mitigate the sell-off. Despite this, market bellwethers like Samsung Electronics and SK hynix ended the day with declines, with Samsung Electronics falling 0.2 percent to 250,000 won and SK hynix falling 1.05 percent to 1.596 million won. The initial rally in the KOSPI was fueled by a rebound overnight following a market-wide reprieve.
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.
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- KOSPI ends slightly higher after intraday swings koreatimes.co.kr
