Stocks rebound a day after stumbling...KOSPI and KOSDAQ rise 4–5% [fn Afternoon Market]

[Financial News] The KOSPI is extending its gains, buoyed by bargain hunting.
As of 1:52 p.m. on the 16th, the KOSPI was trading at 5,776.45, up 222.23 points (4.00%) from the previous trading day.
Individuals, foreign investors and institutions all posted net sales. Individuals net sold 495 billion won, foreign investors 58 billion won and institutions 79.3 billion won, while other corporations absorbed the selling by making net purchases of 632.3 billion won.
Samsung Electronics and SK hynix were up 4.76% and 3.68%, respectively. SK Square (4.25%), LG Energy Solution (1.61%), Samsung Electro-Mechanics (3.27%), Hyundai Motor (7.95%) and Samsung Biologics (6.42%) were also strong.
With most sectors rising, pharmaceuticals, transportation equipment and parts, medical and precision instruments, distribution, securities, entertainment and culture, machinery and equipment, IT services, institutional sectors, and electrical and electronics were posting sharp gains.
At the same time, the KOSDAQ was trading at 804.26, up 43.44 points (5.71%) from the previous trading day. The index surged in the afternoon, at one point triggering a temporary halt on program buy orders, known as a buy-sidecar.
The gains are seen as reflecting bargain hunting following the previous day’s sharp drop. Investor sentiment also got a boost from Nvidia CEO Jensen Huang’s dismissal of concerns about CoreWeave’s (CRWV) financial condition.
Kang Jin-hyuk, a researcher at Shinhan Securities, said, “Huang’s comments that CRWV’s financial health was improving and its cost of raising capital was falling helped narrow losses among U.S. AI value-chain stocks,” adding, “However, doubts over AI capital agreements and the like have yet to be resolved.”

[email protected] Seo Min-ji Reporter