KOSPI ends higher after recovering from sharp intraday losses

Korea's benchmark KOSPI recovered from steep intraday losses Tuesday as retail and institutional investors stepped in to offset heavy foreign selling following the market's recent rally. The benchmark index closed at 8,801.49, up 0.15 percent from the previous session, extending its streak of record-high closes to a third consecutive trading day. After rising as high as 8,933.62 shortly after the opening bell, just 66 points shy of the unprecedented 9,000 mark, KOSPI tumbled to the 8,500 level during intraday trading before rebounding late in the session. The volatile session came a day after the benchmark index closed at a record high of 8,788.38. Analysts attributed the sharp intraday swing to profit-taking by foreign investors following recent gains in semiconductor and other artificial intelligence (AI)-related shares. Retail and institutional investors, however, helped cushion the decline by scooping up stocks. According to the Korea Exchange, foreign investors sold a net 6.59 trillion won ($4.34 billion) worth of stocks, weighing on the index. Retail and institutional investors wereWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times