“When was the last time it went up?” ... KOSPI closes higher for the first time in four sessions [fn Market Close]

[Financial News] The KOSPI closed higher for the first time in four trading sessions as bargain buying, particularly in large-cap semiconductor stocks, flowed into the market. Strength in U.S. semiconductor stocks and a recovery in investor sentiment amid stable international oil prices coincided with buy-sidecars being triggered in both the KOSPI and KOSDAQ markets.
According to the Korea Exchange (KRX), the KOSPI closed at 5,239.13 on the 10th, up 220.28 points (4.39%) from the previous trading day. It was the first time the KOSPI had closed higher in four trading sessions, since the 4th. The index opened at 5,247.22, up 228.37 points (4.55%) from the previous session, then surged to 5,300.92 at one point early in the session.
As gains accelerated, KOSPI 200 futures rose 5.76% from the benchmark price at around 9:06 a.m., triggering a buy-sidecar on the securities market. A buy-sidecar was also triggered on the KOSDAQ market, with both markets posting strong gains early in the session.
On the securities market, foreign investors and institutions were net buyers of 400.5 billion won and 472.7 billion won, respectively. Other corporations also purchased 488.7 billion won worth of shares. Individual investors, by contrast, were the only net sellers, offloading 1.3564 trillion won.
Among the largest stocks by market capitalization, semiconductor-related shares were broadly stronger, including Samsung Electronics (4.74%), SK hynix (6.69%), Samsung Electronics preferred shares (5.37%) and SK Square (5.26%). Samsung SDI (9.88%), Samsung Electro-Mechanics (4.63%) and LG Energy Solution (3.93%) also rose. By contrast, biotech stocks including Samsung Biologics (-2.78%) and Celltrion (-3.33%) weakened.
By sector, medical and precision instruments (8.53%), machinery and equipment (7.65%), construction (7.15%), electrical and electronic equipment (5.73%) and manufacturing (4.91%) posted sharp gains. Metals (4.72%), transportation and warehousing (4.15%) and securities (3.06%) also advanced.
The rebound was attributed to bargain buying following the recent run of declines and a recovery in appetite for risk assets in U.S. markets. On the 9th (local time), the Philadelphia Semiconductor Index surged 6.9%, while AMD and Broadcom rose 13.3% and 8.8%, respectively. Expectations for progress in negotiations between the United States and Iran also lifted investor sentiment, as oil prices fell below $87 a barrel.
Kang Jin-hyuk, a senior researcher at Shinhan Investment & Securities, explained, “Perceptions that the market had become oversold after the recent sharp declines, along with a recovery in risk appetite in U.S. markets, led to bargain buying in domestic semiconductor stocks.” He added, “However, gains narrowed somewhat during the session amid caution ahead of the U.S. October Consumer Price Index (CPI), due to be released today, and CoreWeave’s earnings.”
The KOSDAQ closed at 667.61 on the 10th, up 28.64 points (4.48%) from the previous trading day. It also reclaimed the 660 level as buying flowed into semiconductor materials, parts and equipment stocks, as well as secondary-battery and biotech stocks.
On the KOSDAQ, institutions were net buyers of 214.9 billion won. Foreign investors and individual investors, by contrast, were net sellers of 145.3 billion won and 58 billion won, respectively.

[email protected] Im Sang-hyeok Reporter