KOSPI snaps back to 8,000 as Samsung, SK hynix rally

Korean stocks rebounded sharply from the previous day's sell-off on Friday, with the benchmark KOSPI reclaiming the 8,000 level as investors piled into large-cap chip shares. According to the Korea Exchange, KOSPI closed at 8,088.34, up 5.76 percent from the previous session. The index had retreated to the 7,300 level in early trading, but sharp gains in Samsung Electronics and SK hynix helped lift the market, triggering a buy-side sidecar. Samsung Electronics closed at 309,500 won, up 8.22 percent from the previous session. SK hynix closed at 2,425,000 won, climbing 10.88 percent. A renewed sell-off in U.S. chip stocks overnight initially weighed on investor sentiment, though bargain hunters appeared to step in after the sharp decline. Sentiment was also supported by Kioxia's rebound in Japan, where the shares turned higher after opening sharply lower, helping lift the sector. Institutional investors drove the advance on the main KOSPI market with net purchases of 4.46 trillion won. Foreign investors sold a net 2.19 trillion won, while retail investors were net sellers of 2.31 trillionWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times