Samsung Electronics surge sends KOSPI above 8,800 intraday for 1st time

KOSPI soared above the 8,800 milestone in intraday trading for the first time in history on Monday, as Samsung Electronics spearheaded the rally with a more than 10 percent jump in its share price. The benchmark index opened 9.52 points, or 0.11 percent, higher at 8,485.67, immediately surpassing its previous record closing high of 8,476.15 set Friday. Buying momentum gathered pace throughout the session, carrying KOSPI past the 8,500 level before extending gains through the 8,600 and 8,700 marks and eventually breaching 8,800 intraday. Although it gave up part of its gains late in the session, the index still finished at a record closing high of 8,788.38, up 312.23 points, or 3.68 percent. As the market rally intensified, a buy-side sidecar was activated at around 11:30 a.m., amid heightened volatility in KOSPI200 futures. The mechanism is triggered when KOSPI200 futures rise at least 5 percent above the reference price and sustain the gain for one minute, temporarily suspending program buy orders for five minutes. The latest activation was the first in three trading sessions and markedWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times