KOSPI tumbles 3% in 10 minutes before closing 0.26% higher

  • KOSPI reversed a 1.83% gain and fell about 3% in roughly 10 minutes before closing 0.26% higher at 6,579.48.
  • The index dropped from a session high of 6,682.97 to 6,439.49, a 243.48-point range, after reports of an Iranian attack and yen carry-trade concerns.
  • Other Corporations bought ₩1.5936 trillion net, while individuals, foreign investors and institutions sold; KOSDAQ fell 1.71%.

South Korea's KOSPI closed at 6,579.48 on Sept. 3, up 16.76 points, or 0.26%, after rising as much as 1.83% toward 6,700 before falling about 3% in roughly 10 minutes to an intraday low of 6,439.49 around 2 p.m. Foreign media reports of a suspected Iranian missile and drone attack on a U.S. military base in Kuwait, along with concerns that rising Japanese interest rates could unwind yen carry trades, were cited as triggers. The index later recovered as bargain-hunting returned. Other Corporations were the sole net buyers, purchasing ₩1.5936 trillion, while individuals, foreign investors and institutions sold; the foreign-selling figure was reported as ₩419.5 billion in one account and ₩423.4 billion in the Korea Exchange closing breakdown. Samsung Electronics closed down 0.20% at ₩250,000 and SK Hynix fell 1.05% to ₩1.596 million. The KOSDAQ dropped 1.71% to 790.21, and the won strengthened to ₩1,359.3 per dollar.

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