South Korea's KOSPI Rebounds After Five-Day Losing Streak as Chip Stocks Rally

Deep News10-14 09:05

South Korea's benchmark KOSPI index climbed on Wednesday, rising as much as 2.6% at one point, as a rebound in chip stocks helped the market recover from a five-day slump that had drawn bargain hunters back into the market.

Meanwhile, an event titled the 2026 Sustainable Global Leaders Conference is set to take place from October 20 to 22 along the banks of Shanghai's Huangpu River, featuring Nobel Prize and Turing Award winners discussing the future and trends of technology, as well as a live dialogue between the popular professors Macfarlane and Xiang Biao, who are known for addressing anxiety and the rat-race era. Seats are limited and expected to go quickly.

"The reaction in share prices was not normal," said Eugene Investment & Securities analyst Huh Jae-Hwan, referring to Tuesday's sharp decline.

Foreign investors bought KOSPI shares worth 39 billion won during early trading, while local funds also stepped in as buyers; retail investors, by contrast, were sellers.

Samsung Electronics, SK Hynix, and Samsung Electro-Mechanics contributed the most to the index's gains.

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