KOSPI Jumps Over 5%, Recouping Previous Day’s Losses, Closes at 5,532.59

[The Financial News] The Korea Composite Stock Price Index (KOSPI) surged more than 5% on the 10th and closed around the 5,530 level, driven by expectations that the Iran crisis will come to an end. Market sentiment improved after United States of America (US) President Donald Trump remarked that the war with Iran "will be over." Foreign investors, who had been net sellers for three consecutive trading days, turned net buyers of more than 1 trillion won in the Stock Market Division of the Korea Exchange, helping the index rebound.
The KOSPI finished the session at 5,532.59, up 5.35% from the previous trading day. It opened 5.17% higher at 5,523.21 and extended its gains, recovering most of the previous day’s sharp 5.96% drop.
Early in the session, KOSPI 200 Futures jumped more than 6%, triggering a buy sidecar in the Stock Market Division, which temporarily halted program buy orders.
KOSDAQ (Korean Securities Dealers Automated Quotations) closed up 3.21% at 1,137.68. In the KOSDAQ market, foreign investors sold around 400 billion won, while individual investors and institutions were net buyers of 3.9 billion won and 429 billion won, respectively.

elikim@fnnews.com Kim Mi-hee Reporter