Retail investors breathed a sigh of relief... KOSPI closes up 6% on rebounds in Samsung Electronics and SK hynix [fn market close]

[Financial News] Heavy buying by foreign investors and institutions helped both domestic markets rebound. Strong buying flowed in from the morning, triggering buy-side circuit breakers in both markets.
On the 15th, the Korea Exchange said the KOSPI closed at 7,284.41, up 427.58 points, or 6.24%, from the previous session.
The index opened at 7,082.91, up 3.30% from the previous close. It reclaimed the 7,300 level in the morning, and a buy-side circuit breaker was triggered at around 9:06 a.m. In the afternoon, it surged as much as 8.27% to 7,424.18.
On the Korea Exchange Main Board, individual investors sold 2.467 trillion won worth of shares, taking profits. Foreign investors and institutions posted net purchases of 2.3218 trillion won and 182.4 billion won, respectively.
By sector, machinery and equipment (8.76%), medical and precision instruments (7.45%), and electrical and electronics (7.42%) all jumped sharply, while nonmetallic products (-0.27%) and real estate (-0.20%) edged lower.
Among the largest companies by market capitalization, semiconductor heavyweights Samsung Electronics (6.27%) and SK hynix (8.83%) both posted strong gains. SK Square soared 16.13% to close at 1,382,000 won.
Other large-cap stocks also strengthened, including Samsung Electro-Mechanics (12.14%), Hyundai Motor Company (2.24%), and LG Energy Solution (4.04%).
U.S. stocks closed higher overnight, supported by June Consumer Price Index (CPI) data that came in below market expectations and strength in the semiconductor sector. Earlier, Christopher Waller of the Federal Reserve System (Fed) had said that if core inflation came in high, further rate hikes should be considered. Analysts said the latest inflation reading reduced the likelihood of additional Fed tightening.
As inflation and rate concerns eased, U.S. semiconductor stocks also gained, led by SK hynix American Depositary Receipt, which surged 27%.
The domestic market's rebound was supported by a technical correction after recent steep declines and by bargain hunting. Kim Yoo-mi, an analyst at Kiwoom Securities, said, "For this rebound to develop into a trend recovery for semiconductor stocks, companies will need to show earnings confirmation on AI investment and memory demand, beyond simply recognizing that the recent drop was excessive."
The KOSDAQ closed at 829.43, up 45.45 points, or 5.80%, from the previous session.
The index opened at 805.71, up 2.77% from the previous close, and showed gains of more than 5% from the morning. A buy-side circuit breaker was triggered at around 9:17 a.m. On the KOSDAQ market, individual investors sold 140.7 billion won worth of shares, while foreign investors and institutions posted net buying of 23 billion won and 108.5 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter