KOSPI edges higher as battery, auto gains power market
Korean stocks reversed steep early losses to close slightly higher Monday, as bargain hunting in secondary battery and auto shares offset weakness in semiconductor heavyweights. KOSPI closed at 5,768.01, up 1.76 percent. The benchmark index pared its losses after opening more than 3 percent lower. Stocks attempted to rebound as bargain hunters stepped in, but persistent doubts over the…
Korean stocks rebounded from early declines on Monday, with the KOSPI index settling 1.76 percent higher at 5,768.01 points, despite opening over 3 percent lower. The benchmark index attempted to recover as bargain hunters entered the market, but concerns over the profitability of AI infrastructure investments curtailed gains. Foreign investors sold a combined 37.9 billion won ($28.47 million) of stocks, while retail investors offloaded 1.09 trillion won.
Institutional investors, however, were net buyers, putting 574.7 billion won on the market. Samsung Electronics rose 1.16 percent to close at 218,000 won, while SK hynix jumped 0.39 percent to 1,277,000 won. These gains followed a sell-off of AI-related stocks on Friday, driven by renewed credit worries over CoreWeave. Yet, bargain hunters turned their attention to other sectors, particularly secondary battery stocks, which surged on news that Chinese energy storage system firms were exiting the U.S. market.
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 edges higher as battery, auto gains power market koreatimes.co.kr
