[Closing Market] KOSPI Settles Above 5,800 on Institutional Buying
On Nov. 2, the first trading day of November and the beginning of the week, the domestic stock market briskly started weekly trading with a strong rebound, completely shaking off the shock of external bad news from the previous trading day. As expectations for the easing of uncertainties surrounding
On November 2, the start of the week, the domestic stock market opened with a strong rebound, overcoming the shock of bad news from the previous trading day. The anticipation of uncertainties easing in the AI and semiconductor sectors, coupled with large institutional bargain hunting, drove both the KOSPI and KOSDAQ markets to close at higher levels.
The KOSPI index rallied to 5,859.08, a gain of 128.34 points (2.24%) from the prior session, while the KOSDAQ index rose to 734.36, up 9.98 points (1.38%) from the previous day. Large-cap semiconductor leaders provided solid support to the index's upper end. The KOSPI index, initially depressed after a brief correction of major U.S. tech stocks, recovered from a 92.97 point (1.62%) decline and anchored at the 5,800 mark, buoyed by strong institutional buying and demand. The KOSDAQ market also exhibited upward momentum, closing higher.
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