On the 3rd, the KOSPI index swung between heaven and hell. The intraday range reached 700 points. After starting at 7,700, the index even gave up the 7,400 level during the session, then closed with 8,100 just ahead as strong buying flowed in.

In the afternoon on the 3rd, the KOSPI closing price and the dollar–won exchange rate are displayed on the electronic board in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. /Courtesy of News1

The KOSPI index finished transaction at 8,088.34, up 440.25 points (5.76%) from the previous session. The index opened higher but plunged nearly 4% intraday, then rebounded as money flowed back in, surging 5% intraday and triggering a "buy sidecar." After that, the index widened its gains and stood just shy of 8,100 points.

Large net buying by institutions led the index rebound. Institutions were net buyers of a total 4.4598 trillion won for the day. With financial investment, where exchange-traded funds (ETFs) are counted, net buying 3 trillion won, insurance (104.1 billion won), investment trust (1 trillion won), and pension funds (56.3 billion won) all joined the "buy" side.

In contrast, foreigners and individuals were net sellers of 2.2 trillion won and 2.3 trillion won, respectively. Through the day, foreigners extended their net selling on the KOSPI to 11 straight sessions. However, they were net buyers of 1.8 trillion won in KOSPI200 September futures.

Semiconductor stocks tumbled in the U.S. market overnight, but the domestic market showed a strong rebound as dip-buying flowed in. Lee Kyung-min, a researcher at Daishin Securities, said, "Samsung Electronics and SK hynix opened lower due to profit-taking in semiconductors in the U.S. market," but noted, "The domestic market staged a strong rebound as dip-buying flowed in, led by large-cap semiconductor stocks."

Samsung Electronics rose 8% to regain the 300,000-won level, and SK hynix jumped 10% to settle at the 2.4 million-won level. Samsung Electronics(1P) (10%) and Samsung C&T (6%), among other Samsung group stocks, also showed strong gains together.

The KOSDAQ index closed at 868, up 0.19% from the previous session. The KOSDAQ, which had once been pushed down to the 820 level intraday, reduced losses on the back of the KOSPI rebound and then turned higher just before the close.

By investor type, individuals lifted the index by net buying 110 billion won, while foreigners and institutions were net sellers of 20.2 billion won and 103.9 billion won, respectively.

The won-dollar exchange rate closed down 30.2 won at 1,525.6 won.

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