KOSPI ends slightly higher after intraday swings

The KOSPI index ended marginally higher on Thursday, after experiencing volatile fluctuations throughout the day. Initially, the main index opened 1.33 percent higher at 6,650.33, but soon reversed and plummeted nearly 2 percent during the afternoon. Trading resumed, with the KOSPI falling to the 6,400 range before rallying to a closing figure of 6,579.48, marking a gain of 16.76 points or 0.26 percent compared to the prior session.

Retail investors were primarily responsible for the net selling, selling a total of 955 billion won ($703 million). On the other hand, foreign investors and institutions collectively sold net amounts of 423.4 billion won and 215.2 billion won, respectively. In contrast, corporations were the only significant investor group that managed to post a net buying figure, purchasing nearly 1.6 trillion won, which helped alleviate the pressure from the other investor categories.

As a measure against the sell-off, ongoing share buybacks by Samsung Electronics and SK hynix have provided a buffer. However, market bellwethers, including Samsung Electronics and SK hynix, closed at lower levels. Samsung Electronics traded at 250,000 won, marking a 0.2 percent decrease from the previous session, while SK hynix experienced a 1.05 percent decline, closing at 1.596 million won. The KOSPI's initial gains followed an overnight recovery, triggered by a rebound in Wa.