[Closing Market] KOSPI Surges 3.3%, Reclaiming 5,700 As Foreign Buyers Return
The domestic stock market, which had been unable to escape the shock of a massive crash the previous day, successfully mounted a dramatic rebound in the 3% range in just one day, riding on the back of aggressive low-priced buying and a favorable global semiconductor tailwind.On Oct. 21, the KOSPI in
The KOSPI index experienced a remarkable turnaround, surging 3.3% to reclaim the 5,700 level after a tumultuous day of massive losses. Foreign investors returned to the market, actively participating in low-priced buying, and driving the index's impressive ascent. The sharp decline in oil prices and stabilizing US Treasury yields contributed to a more favorable investor sentiment.
Major semiconductor companies, like Samsung Electronics and SK hynix, staged a synchronized rally, bolstering the market's positive momentum. The KOSDAQ index also joined the rally, closing at 792.76, up 1.38% from the previous session. While the index rebound was primarily driven by top-tier stocks, other KOSPI large-cap stocks displayed mixed performances, with automotive stocks and some financial stocks registering minor declines.
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