KOSPI rebounds toward 6,600 as Samsung preferred shares rise 2.51%

  • KOSPI opened lower before rebounding 0.10% to 6,634.03 by 9:15 a.m.
  • Individuals bought 220.6 billion won, while foreign investors sold 263 billion won.
  • Samsung preferred shares rose 2.51% after Life Asset Management proposed cancellations.

The KOSPI recovered from an early decline to trade at 6,634.03, up 0.10%, as retail investors bought shares after four consecutive losing sessions. Foreign investors extended net selling to six sessions, while institutions also sold. Samsung Electronics' common shares were little changed at 249,000 won, but its preferred shares climbed 2.51% to 191,800 won after activist fund Life Asset Management proposed using roughly 63 trillion won in remaining 2026 shareholder-return funds to buy and immediately cancel preferred stock. The proposal cited the preferred shares' roughly 25% discount to common shares and potential per-share value gains. External markets remained under pressure before the Federal Open Market Committee's rate decision: Wall Street's three major indexes fell for a second session, oil prices surged on Middle East and supply disruptions, and the 10-year U.S. Treasury yield reached 5.041%, its highest level since July 2007. CME FedWatch put the probability of a 0.25 percentage-point Federal Reserve rate increase at 94.5%. Analysts said the 6,600 level could provide support because the rate hike is largely priced in, bond yields are near a peak and stocks are near a bottom.

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KOSPI rebounds toward 6,600 as Samsung preferred shares rise 2.51% - CoinPost Terminal