KOSPI Surges Over 10% to Reclaim 5,600 Level at 5,615.57

According to Financial News, the KOSPI, which had plunged for two consecutive days, rebounded sharply on expectations that geopolitical risks from the Middle East will ease, recovering the 5,600 level.
As of 10:38 a.m. on the 5th, the KOSPI was trading at 5,615.57, up 522.03 points (10.25%) from the previous session, according to the Korea Exchange.
In the securities market, individual investors and foreigners were net buyers of 1.2874 trillion won and 370.2 billion won, respectively, while institutions were net sellers of 1.6051 trillion won.
By sector, securities (15.11%), machinery and equipment (12.94%), and electrical and electronics (12.69%) were all showing strong gains. At this point, no sector on the KOSPI is in negative territory.
Large-cap stocks by market capitalization were also rising across the board. Samsung Electronics and SK Hynix were up 12.60% and 12.84%, respectively, while Hyundai Motor (10.78%) and LG Energy Solution (7.19%) were also strong.
At the same time, the KOSDAQ Market was trading at 1,092.79, up 114.35 points (11.69%) from the previous day. Foreign investors were net buyers of 482 billion won, while individuals and institutions were net sellers of 362.3 billion won and 113.5 billion won, respectively.
The rebound in the domestic stock market is seen as stemming from expectations that geopolitical risks in the Middle East will be resolved. Foreign media reported that Iran's intelligence authorities proposed negotiations to end the conflict to the Central Intelligence Agency (CIA) through a third country, raising hopes that the war could end sooner than expected.
Overnight, the New York Stock Exchange (NYSE) also advanced as the U.S. government's measures to stabilize oil prices calmed the crude market, lifting all three major indices. The Dow Jones Industrial Average (DJIA) gained 0.49%, while the S&P 500 Index and the NASDAQ Composite Index rose 0.78% and 1.29%, respectively.

koreanbae@fnnews.com Bae Han-geul Reporter