South Korean Stock Market Rebounds Strongly as Chipmaker Shares Recover

Deep News02-03 09:51

Following a sharp sell-off on Monday, the South Korean stock market staged a robust recovery on Tuesday. As global markets stabilized and concerns over the outlook for artificial intelligence (AI) spending eased, shares of major South Korean technology giants resumed their strong upward trajectory.

The Kospi index surged as much as 5% during the session, marking its largest single-day gain since April 10th. Chipmakers Samsung Electronics and SK Hynix were the primary drivers of the rally, with both companies seeing their stock prices climb more than 6%. Over the past 12 months, the benchmark Korean stock index has doubled, establishing itself as the best-performing major stock index globally.

Tuesday's rebound in the South Korean market was primarily fueled by buying from local institutional investors. Foreign investors also contributed as net buyers, while retail investors engaged in selling.

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