On the 21st, the KOSPI jumped more than 8% to break through the 7,800 level. After a steep correction, it is once again approaching the 8,000 level.
With tensions between the United States and Iran easing externally and labor talks at Samsung Electronics concluding, investment funds poured into the stock market. For the first time since April, a buy-sidecar (temporary halt of program buy quotes) was triggered simultaneously on the KOSPI and KOSDAQ.
The KOSPI closed at 7,815.59, up 606.64 points (8.42%) from the previous session. It recovered to the level before the sharp correction that followed shortly after the KOSPI topped 8,000 intraday on the 15th.
The KOSPI opened with a 3.85% surge, and intraday gains expanded. Although about 2.8 trillion won of individual profit-taking hit the main board, institutions net bought around 3.2 trillion won, lifting the index. Foreign investors were net sellers of about 500 billion won.
Among large-cap stocks by market capitalization, semiconductor-related shares drew strong buying from investors. The tentative agreement reached dramatically between labor and management at Samsung Electronics is seen as easing market concerns.
Samsung Electronics rose 8.51% from the previous day to close at 299,500 won. SK hynix and SK Square jumped 11% to 14%, respectively. Hyundai Motor and LG Electronics, highlighted as Robotics-themed stocks, also surged. Notably, LG Electronics hit the upper price limit for the day.
U.S. stocks closed higher the previous day after President Donald Trump said talks between the United States and Iran were in the final stage. International oil prices and government bond yields fell, stoking risk appetite.
The KOSDAQ also showed strength. The KOSDAQ closed at 1,105.97, up 49.90 points (4.73%) from the previous day. Like the KOSPI, the KOSDAQ opened higher and a buy-sidecar was triggered early in the session.
On the KOSDAQ that day, foreigners and institutions each net bought 130 billion won, while individuals net sold 250 billion won.