Extreme volatility in the market... KOSPI turns higher, KOSDAQ falls [Morning Market Report]

[Financial News] KOSPI opened lower on the 8th, but turned higher as Samsung Electronics and SK hynix rebounded. KOSDAQ has extended its losses for a third consecutive trading day.
As of 9:58 a.m. that day, KOSPI was trading at 7,762.56, up 106.25 points, or 1.39%, from the previous session. It had opened 203.83 points, or 2.66%, lower than the day before, but later reversed course as institutional investors stepped in with net buying.
At the same time, Samsung Electronics was up 0.84%, while SK hynix rose 5.36%. Both stocks started the session in negative territory, but buying at lower prices pushed them back into positive ground.
The KOSDAQ index was trading at 821.41, down 9.82 points, or 1.18%, from the previous day. It has fallen for three straight trading days since the 6th.
Brokerage firms said the KOSPI's gains were being driven by a technical rebound after the previous day's sharp drop, along with bargain hunting centered on large-cap semiconductor stocks. However, sentiment toward small- and mid-cap growth stocks remains weak, and KOSDAQ is seen as continuing to underperform.
dschoi@fnnews.com Choi Du-seon Reporter