KOSPI jumps 2.20% as semiconductor stocks lead Sept. 22 rebound

  • KOSPI opened higher as large-cap semiconductor stocks drove a Sept. 22 market rebound.
  • KOSPI started at 7,161.61 points, up 2.20% from the previous trading day.
  • Foreigners sold 257 billion won, while retail and institutional investors recorded net buying.

South Korea’s domestic stock market opened sharply higher on Sept. 22, with the KOSPI rising 2.20% to 7,161.61 points as large-cap semiconductor stocks led a broad rebound. The index briefly reached 7,171.44 before technical selling emerged, but remained above 7,100 and stood at 7,146.88, up 139.16 points, or 1.98%, at 9:50 a.m. The KOSDAQ opened 1.18% higher, supported by bargain hunting in technology shares. Foreign investors were net sellers of 257 billion won, while retail investors bought a net 156.8 billion won and institutions bought 26.7 billion won. Other corporations added more than 70 billion won of net buying amid continued share buybacks by KOSPI-listed companies. Samsung Electronics gained 3.45% to around 270,000 won, Samsung Electronics Preference Shares rose 5.05% to 206,000 won, and SK Hynix advanced 0.86% to 1,873,000 won. LG Energy Solution rose about 1.2%, Hyundai Motor and Kia gained between 0.5% and 1.1%, and KB Financial Group and Shinhan Financial Group were up about 0.8%. The dollar fell 9.3 won to open at 1,371.7 won, reflecting reduced uncertainty over Federal Reserve monetary policy and a modest recovery in appetite for global risk assets. Experts cautioned that mixed investor flows could leave markets vulnerable to volatility from major economic data releases and corporate earnings forecasts.

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