KOSPI rebounds 1.11% as Treasury yields stabilize after 4% plunge

  • KOSPI rebounded after the previous session's near-4% decline.
  • KOSPI rose 73.07 points, or 1.11%, to 6,635.79 by 9:04 a.m.
  • Retail investors bought 62.1 billion won, while foreigners and institutions sold.

South Korea's KOSPI rebounded 1.11% to 6,635.79 by 9:04 a.m. on September 3, recovering from the previous session's 3.99% plunge as U.S. Treasury yields stabilized and Wall Street posted its first gain in four sessions. The index briefly rose 1.33% to 6,650.33 before foreign and institutional selling moderated the advance. The KOSDAQ gained 0.42% to 807.38 after rising as much as 1.28% in early trading. Retail investors drove the KOSPI recovery with net purchases of 62.1 billion won, while foreigners sold 45.5 billion won and institutions sold 24.4 billion won. U.S. 10-year Treasury yields retreated from an intraday peak of 4.821% to close at 4.793%, while weak ADP private-sector employment data and comments from New York Fed President John Williams eased expectations of an imminent rate increase. Semiconductor stocks led gains in Seoul, although Broadcom shares fell 4-5% in after-hours trading after its fourth-quarter revenue guidance came in below expectations despite stronger-than-expected third-quarter results and more than tripled semiconductor revenue. Investors were also monitoring oil prices, possible U.S. tariffs on semiconductor companies without U.S. production facilities, and continued military tensions between the United States and Iran. Analysts said the rebound could reflect technical bargain hunting rather than a confirmed trend reversal, with elevated yields and geopolitical risks likely to keep volatility high.

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KOSPI rebounds 1.11% as Treasury yields stabilize after 4% plunge - CoinPost Terminal