KOSPI Surges More Than 2% to Break Above 7,800 as Samsung Electronics and SK hynix Rebound [fn Afternoon Market]

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[Financial News] The KOSPI Composite Index widened its gains and broke above the 7,800 level, supported by rebounds in Samsung Electronics and SK hynix.
\r\nAs of 1:38 p.m. on the 13th, the KOSPI Composite Index was trading at 7,810.20, up 167.05 points, or 2.19%, from the previous session. The index opened lower that day, but quickly reversed course and turned higher early in the session.
Retail investors and institutions were net buyers of 1.5049 trillion won and 1.2896 trillion won, respectively, while foreign investors were net sellers of 2.9184 trillion won.
Samsung Electronics and SK hynix, which opened lower after the Philadelphia Semiconductor Index (SOX) fell 3% overnight, rebounded and lifted the benchmark higher. Samsung Electronics was up 1.34%, while SK hynix rose 7.30%. Samsung Electronics had fallen more than 6% early in the session on concerns over a possible full-scale strike, but later turned positive.
Other gainers included SK Square (4.97%), Hyundai Motor Company (8.36%), Samsung Electro-Mechanics (7.83%), HD Hyundai Heavy Industries (0.71%), and Kia (4.10%). On the other hand, LG Energy Solution (-2.82%), Doosan Enerbility (-4.94%), Samsung C&T Corporation (-0.80%), Samsung Biologics (-2.46%), and Hanwha Aerospace (-2.18%) were weaker.
By sector, transportation equipment and parts, electrical and electronics, medical and precision instruments, manufacturing, and transportation and warehousing were strong. In contrast, general services, real estate, pharmaceuticals, electricity and gas, food and tobacco, machinery and equipment, chemicals, and securities were lower.
Meanwhile, at the same time, the KOSDAQ was trading at 1,170.59, down 8.70 points, or 0.74%, from the previous close.
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jisseo@fnnews.com Seo Min-ji Reporter