[Closing Market] KOSPI Ends Slightly Higher After 400-Point Rollercoaster
On Nov. 4, the domestic financial market opened strong, inheriting the warmth of the tech stock rebound in the New York stock market from the previous day, but exhibited a highly volatile market with zero visibility as political uncertainty surrounding the U.S. midterm elections coincided with a hea
On November 4, South Korea's KOSPI stock market experienced a rollercoaster ride, ultimately closing slightly higher. The market opened strongly, buoyed by a rebound in tech stocks from the previous day's New York market, but quickly became highly volatile due to political uncertainty surrounding U.S. midterm elections and a deluge of sell orders from foreign investors.
The gap between the KOSPI's intraday high and low surpassed 400 points, reflecting the market's tumultuous nature. Despite this, both the KOSPI and KOSDAQ indices managed to end the day in the green, thanks to defensive buying from both individual and institutional investors. The KOSPI finished at 5,683.80, up 35.01 points (0.62%) from the previous session, while the KOSDAQ closed at 714.95, up 10.56 points (1.50%) from the prior trading day.
The domestic market's battle between global macroeconomic variables and supply and demand entities was evident, with massive sell orders from foreigners and strong buying from institutions and individuals clashing throughout the day.
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