KOSPI Rebounds on Semiconductor Buying
The KOSPI rebounded 1.37% to close above 6,700, driven by institutional buying in semiconductor heavyweights like SK Hynix and Samsung Electronics that overwhelmed significant foreign outflows. This recovery came ahead of the FOMC decision, aided by positive news regarding U.S. manufacturing partnerships and activist shareholder proposals.
GN stocks reports that the index reclaimed the 6,700 level despite foreigners net-selling ₩1.7 trillion, with institutions acting as the sole net buyers. The rally was further supported by SK Hynix negotiations with Intel for U.S. production and a proposal by Life Asset Management for Samsung Electronics to cancel preferred shares.
Source: biggo.comSouth Korea's benchmark index closed higher as institutional investors accumulated shares in major chipmakers, offsetting losses in automotive and defense sectors.
Source: The Korea Herald
