South Korean Shares Rebound on Tech Rally
The benchmark KOSPI rose 3.75% to around 5,206 on Tuesday, recovering from recent losses as a rally in US technology stocks and easing geopolitical tensions in the Middle East lifted investor sentiment. The gains followed an overnight Wall Street rally after US President Donald Trump signaled reluctance to resume strikes against Iran, raising hopes for diplomatic talks and sending oil prices lower, thereby easing inflation concerns. Strong buying in technology shares also supported the rebound, particularly in Samsung Electronics (+5.32%) and SK Hynix (+7.22%). Other notable gainers included LG Energy Solution (+4.25%), Hyundai Motor (+2.58%), and KB Financial (+3.51%). Meanwhile, the Korea Exchange (KRX) activated a buy-side sidecar at 9:06 am, suspending program trading in KOSPI-listed shares for five minutes after the KOSPI 200 Futures Index rose at least 5% for one minute.
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The benchmark KOSPI rose 3.75% to around 5,206 on Tuesday, recovering from recent losses as a rally in US technology stocks and easing geopolitical tensions in the Middle East lifted investor sentiment. The gains followed an overnight Wall Street rally after US President Donald Trump signaled reluctance to resume strikes against Iran, raising hopes for diplomatic talks and sending oil prices lower, thereby easing inflation concerns. Strong buying in technology shares also supported the rebound, particularly in Samsung Electronics (+5.32%) and SK Hynix (+7.22%). Other notable gainers included LG Energy Solution (+4.25%), Hyundai Motor (+2.58%), and KB Financial (+3.51%).
Meanwhile, the Korea Exchange (KRX) activated a buy-side sidecar at 9:06 am, suspending program trading in KOSPI-listed shares for five minutes after the KOSPI 200 Futures Index rose at least 5% for one minute.