On the 3rd, as the KOSPI jumped more than 7%, shares of chip bellwether Samsung Electronics surged more than 11%, leading the index higher. Samsung Electronics closed at 167,200 won, up 16,800 won (11.17%) from the previous session, marking an all-time high.
The single-day gain was the largest in about 17 years and 3 months since 2008. On Oct. 30, 2008, just after the global financial crisis, Samsung Electronics once rose 13.05%.
Samsung Electronics' market capitalization reached 990 trillion won, nearing 1,000 trillion won. The increase in market capitalization in just one day amounted to 100 trillion won.
The surge in Samsung Electronics' share price was driven by large net buying by foreigners. Foreign investors recorded net purchases of Samsung Electronics shares worth 666.7 billion won. Institutions also were net buyers to the tune of 580.9 billion won, while individuals were net sellers of 1.3403 trillion won.
Samsung Electronics plunged 5.79% the previous day as investor sentiment weakened on news that U.S. President Donald Trump had nominated "hawkish" Kevin Warsh as the next chair of the Federal Reserve (Fed). However, in just one day, it rebounded by about twice the amount of the decline.