The KOSPI index held gains of more than 5% shortly after the open on the 22nd, swiftly reclaiming the 7,000 level. It marked the first recovery of the 7,000 level in four trading days.
As of 9:02 a.m. that day, the KOSPI index was at 7,089.26, up 341.31 points (5.06%) from the previous session. The KOSPI started the session at 7,052.09, up 4.51% (304.14 points).
As the KOSPI index rose sharply, a buy-sidecar (temporary suspension of program buy quotes) was also triggered. According to the Korea Exchange (KRX), a buy-sidecar was triggered in the stock market starting at 9:06:02 a.m. that day. At the time of activation, the KOSPI200 futures index was 1,139.30, up 58.46 points (5.40%) from the previous closing price.
Foreign investors are leading the main board. While foreigners are net buyers of 601.8 billion won, individuals are net sellers of 306.5 billion won and institutions are net sellers of 296.7 billion won.
Market heavyweights on the main board all flashed red. Along with Samsung Electronics(005930) and SK hynix(000660), SK Square, Samsung Electro-Mechanics, Hyundai Motor, LG Energy Solution, Samsung Life Insurance, Samsung Biologics, KB Financial Group and others are gaining.
At the same time, the KOSDAQ index was at 773.75, up 20.41 points (2.71%) from the previous session. The KOSDAQ opened at 772.41, up 2.53% (19.07 points).
In the KOSDAQ market, individuals are net buyers of 25.6 billion won, while foreigners are net sellers of 11.3 billion won and institutions are net sellers of 13.7 billion won.
Top-cap stocks on the KOSDAQ are also all rising. Rainbow Robotics and Wonik IPS are posting double-digit gains, while Alteogen, EcoPro BM, EcoPro, Jusung Engineering, LEENO Industrial, PSK, EO Technics and FADU are also climbing.
Overnight, the three major U.S. indexes all finished higher. Bargain hunting flowed into artificial intelligence (AI) and semiconductor stocks that had recently corrected.
The Dow Jones Industrial Average closed at 52,224.64, up 385.38 points (0.74%) from the previous session, the Standard & Poor's (S&P) 500 rose 65.92 points (0.89%) to 7,509.20, and the Nasdaq composite ended at 25,837.21, up 329.13 points (1.29%).
SK hynix American depositary receipts (ADR) jumped more than 13%, and Micron also surged 12%.