"It Fell Too Much"... KOSPI Rebounds More Than 3%, Regains the 7,500 Level [Morning Market Report]

[Financial News] The KOSPI is rebounding, rising more than 3% for the first time in a while. Large-cap stocks such as Samsung Electronics, SK Square, and Samsung Electro-Mechanics are all showing strength.
As of 11:20 a.m. on the 10th, the KOSPI was trading at 7,553.96, up 262.05 points, or 3.59%, from the previous session.
The index opened 3.57% higher at 7,552.49 and at one point rose to 7,643.33 during the session. It has since held gains of more than 3% and is fluctuating around the 7,500 level.
In the main board market, individual investors are taking profits, selling 825.6 billion won worth of shares. Foreign investors are also net sellers by 552.1 billion won, while institutions are the only net buyers, purchasing 1.421 trillion won worth.
By sector, medical and precision equipment rose 10.1%, securities gained 7.78%, and machinery and equipment advanced 6.86%. Telecommunications was the only sector in negative territory, slipping 0.3%.
Most large-cap stocks are moving higher. Samsung Electronics rose 3.78%, SK hynix 0.89%, and SK Square 3.92%. Samsung Electro-Mechanics gained 6.5%, Hyundai Motor Company 3.93%, and LG Energy Solution 4.15%.
U.S. stocks closed higher overnight as hopes grew for a return to negotiations between the United States and Iran following mediation efforts by Qatar and Pakistan. Sentiment also improved after Micron announced additional investment in the United States, while concerns over the AI industry eased on news that Meta Platforms would expand its own AI chip production and investment.
The domestic market is also rising on expectations for the listing of SK hynix American Depositary Receipt, among other factors. Han Ji-young, an analyst at Kiwoom Securities, said, "It is worth noting that events capable of reversing market sentiment, such as ASML's earnings next week and TSMC's earnings, are lined up one after another." She added, "On the macro side as well, there is a high likelihood that the June U.S. CPI on the 14th will confirm that inflation has peaked."
At the same time, the KOSDAQ was trading at 835.81, up 41.81 points, or 5.27%, from the previous session. The index opened 1.64% higher at 807.00 and briefly climbed to the 840 level before maintaining gains of more than 5%.
In the KOSDAQ market, individual investors are selling 220 billion won worth of shares, while foreign investors are selling 60.8 billion won. Institutions are net sellers by 281.4 billion won.
nodelay@fnnews.com Park Ji-yeon Reporter