KOSPI rebounds from sharp sell-off on Samsung buyback hopes

Korea's benchmark stock index jumped more than 3 percent Wednesday, clawing back some of the previous session's 10 percent plunge, as bargain-hunting and hopes for a major Samsung Electronics buyback lifted investor sentiment. According to the Korea Exchange, the KOSPI closed at 8,471.02, up 3.26 percent from the previous session when it plunged nearly 10 percent. It climbed as high as 8,577.52 during the session, but turned lower in the afternoon and briefly fell to 8,080.99. It later resumed its upward trend and closed higher. Despite weakness in U.S. semiconductor stocks, investor sentiment was boosted by news that Samsung Electronics is close to announcing a 90 trillion won ($58.2 billion) share buyback. Its shares rose 9.84 percent to close at 340,500 won, reclaiming the top spot by market capitalization. SK hynix also rose 0.98 percent to close at 2,580,000 won, but failed to close the gap with Samsung Electronics. Market laggards also advanced, supported by bargain-hunting. The pharmaceutical and biotech sector rebounded on expectations surrounding the 2026 BIO International ConveWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times