KOSPI recovers from early drop to rise toward 6,880 as semiconductor shares rebound

  • KOSPI recovered from early losses and climbed to 6,880.37 by 11:47 a.m.
  • Foreign investors sold 680 billion won, extending their selling streak to four sessions.
  • KOSDAQ rose 2.96% to 881.24, led by semiconductor materials, parts and equipment firms.

South Korea's KOSPI recovered from an early decline below 6,800 and rose to 6,880.37 by 11:47 a.m. on October 1, as Micron Technology's record earnings and record semiconductor exports improved investor sentiment. The index opened at 6,814.49, down 0.34%, after earlier falling to an intraday low of 6,765.06 and standing at 6,775.80, down 0.91%, at 10:00 a.m. Samsung Electronics and SK hynix turned higher by about 1%, while foreign investors extended their selling streak to four sessions with net sales of 680 billion won and institutions sold 114 billion won. The KOSDAQ rose 2.96% to 881.24, led by semiconductor materials, parts and equipment companies. High oil prices and U.S. Treasury yields continued to restrain the market, while a proposed $50 billion Alaska liquefied natural gas pipeline project under South Korean investment plans supported steel stocks.

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