South Korean Stock Market Rebounds with Over 2% Gain as Retail Buying Counters Foreign Sell-off

Deep News05-13 12:20

On Wednesday, South Korean stocks quickly recovered from losses and climbed toward new highs, as local retail investors seized the opportunity to buy shares during a wave of selling by foreign funds. The benchmark Kospi index, after falling 3.2% in early trading, rose by more than 2% at one point. Shares of memory chip giant Samsung Electronics also halted their decline and rebounded, with trading investors temporarily downplaying concerns stemming from the breakdown of wage negotiations with its largest union. This rapid reversal is yet another example of the intense volatility in one of the world's hottest stock markets. Driven by the artificial intelligence trend, the Kospi index has surged over 80% year-to-date; even after entering bear market territory, its performance this year remains among the strongest globally.

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