KOSPI Jumps Over 10% on Bargain Hunting, KOSDAQ Surges More Than 16% [Afternoon Market Brief]

[Financial News] The Korea Composite Stock Price Index (KOSPI) is holding above the 5,630 level, rising more than 10% on the back of bargain hunting. KOSDAQ is showing even stronger momentum, soaring over 16% as foreign and institutional funds flow in.
According to the Korea Exchange (KRX) on the 5th, at 2:00 p.m. the KOSPI was trading at 5,634.78, up 541.24 points (10.63%) from the previous session. The index opened at 5,250.92, up 3.09%, and extended its gains in the morning, at one point touching 5,715.30 (12.21%).
In the KOSPI Market, retail investors are net buyers of 2.0313 trillion won, while foreigners and institutions are net sellers of 167.2 billion won and 1.8829 trillion won, respectively.
By sector, medical and precision instruments (16.73%), securities (15.54%), and machinery and equipment (13.76%) are all strong. No sector is currently in negative territory.
Large-cap stocks by market capitalization are also rising across the board. Samsung Electronics and SK Hynix are up 11.85% and 12.72%, respectively, while Mirae Asset Securities (17.52%), Doosan Enerbility (13.15%), and Hyundai Motor Company (10.58%) are also posting solid gains.
At the same time, KOSDAQ was trading at 1,135.40, up 156.96 points (16.04%) from the previous day. Foreign investors and institutions are net buyers of 1.0286 trillion won and 339.7 billion won, respectively, while retail investors are net sellers of 1.3407 trillion won.
Noh Dong-gil, a researcher at Shinhan Securities, said, "The KOSPI rebounded as strong bargain hunting flowed into the market after it recorded the largest drop in history and came close to breaking below the 5,000 level," adding, "On KOSDAQ, most sectors are strong, including batteries, which saw steep declines earlier this week."


koreanbae@fnnews.com Bae Han-geul Reporter