The KOSPI reclaimed the 8,100 level, lifted by foreign buying that ended a 24-session selling streak amid expectations that risks in the Middle East are easing.
The KOSPI closed at 8,123.62 on Thursday, up 359.67 points, or 4.63%, from the previous session, according to the Korea Exchange. The KOSDAQ index also ended the day at 1,029.05, up 32.12 points, or 3.22%. The KOSPI triggered its third buy sidecar, a temporary suspension of program buy orders, this month alone. Combined with three sell sidecars, volatility-easing mechanisms were activated six times over nine trading sessions.
Foreign investors net bought 2.1181 trillion won on the main bourse, turning buyers for the first time in 25 sessions. Individuals net sold 4.3366 trillion won, taking profits. Samsung Electronics (005930.KS) closed at 322,500 won, up 23,500 won, or 7.86%, from the previous session. In the KOSPI market, 756 stocks gained, far outnumbering the 144 that declined. It marked the second-highest number of advancing stocks over the past year, following 793 on March 5 this year.
"While the KOSPI's recovery above the 8,000 level has improved investor sentiment, volatility may continue ahead of next week's U.S. Federal Open Market Committee (FOMC) meeting and monetary policy events in major economies," said Lim Jung-eun, an analyst at KB Securities.
