🚨 South Korean stocks rebound nearly 6% as chip stocks surge.
The KOSPI jumped nearly 6%, reversing the previous sharp selloff as falling US Treasury yields and shareholder return measures lifted sentiment.
SK Hynix surged 12.73% after announcing a share buyback and treasury stock cancellation, while Samsung Electronics jumped 9.49% on reports of a new shareholder return policy.
Foreign investors turned buyers, purchasing KRW1.7 trillion or about $1.22 billion of Korean equities.
Other major stocks: LG Energy Solution +0.14%, Hyundai Motor +0.85%, Kia −1.43%, POSCO Holdings +0.47% and Samsung Biologics +1.94%.
Market breadth was positive with 521 stocks advancing versus 338 declining.
$KORU $SKHY
The KOSPI jumped nearly 6%, reversing the previous sharp selloff as falling US Treasury yields and shareholder return measures lifted sentiment.
SK Hynix surged 12.73% after announcing a share buyback and treasury stock cancellation, while Samsung Electronics jumped 9.49% on reports of a new shareholder return policy.
Foreign investors turned buyers, purchasing KRW1.7 trillion or about $1.22 billion of Korean equities.
Other major stocks: LG Energy Solution +0.14%, Hyundai Motor +0.85%, Kia −1.43%, POSCO Holdings +0.47% and Samsung Biologics +1.94%.
Market breadth was positive with 521 stocks advancing versus 338 declining.
$KORU $SKHY