KOSPI Surges to Close Above 5,200; KOSDAQ Also Up 4%

'Buy-Side Sidecars' Triggered on Both Markets
Bargain Hunting and Sharp Drop in Oil Prices
Geopolitical Tensions in the Middle East Ease

The KOSPI rose more than 4% to close above the 5,200 mark, as a rally in U.S. technology stocks and a sharp drop in international oil prices revived investor sentiment.

Yonhap News Agency

On November 10, the KOSPI closed at 5,239.13, up 220.28 points (4.39%) from the previous session. At 9:06 a.m., a fluctuation in the KOSPI 200 futures index triggered a five-minute suspension of program buy orders. This was the 58th time a sidecar had been triggered on the KOSPI this year, and the 28th time a buy-side sidecar had been triggered. The KOSPI also reached 5,300.92 during the session.

Retail investors were net sellers of 1.3414 trillion won. Foreign investors and institutional investors were net buyers of 369.6 billion won and 488.9 billion won, respectively.

By sector, medical and precision instruments (8.53%), machinery and equipment (7.65%), construction (7.15%), electrical and electronic equipment (5.73%), and manufacturing (4.91%) advanced.

Among the largest stocks by market capitalization, Samsung Electronics (4.74%), SK hynix (6.69%), Samsung Electronics preferred shares (5.37%), SK Square (5.26%), and LG Energy Solution (3.93%) rose.

The KOSDAQ closed at 667.61, up 28.64 points (4.48%) from the previous session. On the KOSDAQ, a five-minute suspension of program buy orders was also triggered at 9:10 a.m. due to fluctuations in KOSDAQ 150 futures prices and the spot index.

Retail and foreign investors were net sellers of 56.1 billion won and 147.2 billion won, respectively. Institutional investors were net buyers of 214.8 billion won.

By sector, financial services (6.79%), machinery and equipment (6.31%), nonmetallic minerals (6.10%), electrical and electronic equipment (5.98%), and manufacturing (4.93%) advanced.

Among the KOSDAQ's largest stocks by market capitalization, Alteogen (4.69%), EcoPro (10.23%), EcoPro BM (8.70%), Jusung Engineering (7.48%), and Rainbow Robotics (7.44%) rose.

All major U.S. stock indexes rose overnight. On November 9 local time, the Dow Jones Industrial Average closed at 52,389.75 on the New York Stock Exchange (NYSE), up 1,104.02 points (2.15%) from the previous session. The S&P 500 rose 173.08 points (2.35%) to 7,549.94, while the tech-heavy Nasdaq Composite gained 673.71 points (2.74%) to close at 25,253.14.

In particular, bargain hunting in semiconductor stocks helped drive the gains. AMD (13.26%), Broadcom (8.78%), Marvell Technology (9.49%), Micron Technology (6.25%), and SK hynix ADR (5.53%) surged. The Philadelphia Semiconductor Index also rose about 7%. Nvidia, by contrast, fell 4.27% after Chief Executive Officer (CEO) Jensen Huang admitted to an affair with a businesswoman suspected of being a spy linked to a Chinese intelligence agency.

Falling international oil prices also supported the stock market rally. West Texas Intermediate (WTI) futures closed at $86.85 per barrel on the New York Mercantile Exchange, down 4.38% from the previous trading day. Brent crude futures, the global benchmark, also ended trading at $92.57 per barrel, down 5.85%. The decline followed U.S. President Donald Trump's remarks that the likelihood of major additional strikes against Iran was very low. Analysts said that, as geopolitical uncertainty stemming from the Middle East eases, the market is likely to become less sensitive to the factors that have unsettled stocks since last month.

Han Ji-young, a researcher at Kiwoom Securities, said, "Since the midterm elections, market sentiment has been converging around the view that the likelihood of the (U.S.) Democratic Party tightening regulations on data centers is not high." She added, "Given that geopolitical uncertainty stemming from the Middle East is also easing, I think it makes sense to remain open to the possibility that the market will become less sensitive to the factors that have unsettled stocks since October."

This content was produced with the assistance of AI translation services.