“Rotation Rally” KOSPI Recovers to 3,860 Level [fn Afternoon Market Briefing]

[Financial News] On the 22nd, the KOSPI is maintaining the 3,860 level in late trading, showing gains of around 1%.
As of 2 p.m. today, the KOSPI was trading at 3,860.17, up 0.95% from the previous session. The index opened at 3,827.23, a 0.09% increase, but initially fell to 3,794.52 (-0.77%) before rebounding.
While semiconductor stocks, which hit record highs the previous day, are undergoing some corrections, buying has shifted to previously neglected sectors such as chemicals, shipbuilding, and rechargeable batteries, driving the index higher.
Jaewon Lee, a researcher at Shinhan Securities, explained, “As semiconductor stocks, which have entered an overbought technical zone, take a breather, warmth has spread to previously overlooked sectors like the biotechnology industry, rechargeable battery, and petrochemical industry. This has led to a rotation rally.”


elikim@fnnews.com Kim Mi-hee Reporter