[Edaily Reporter KIM YOON-JEONG ] The KOSPI rebounded by more than 3% in a single day, recovering from the previous day’s record plunge. SamsungElectronics surged nearly 10% on expectations of a 90 trillion won share buyback, leading the index higher, while large-cap stocks such as SAMSUNG BIOLOGICS and SAMSUNG C&T CORPORATION also posted strong gains.

According to MP Doctor on the 24th, the KOSPI index closed at 8,471.02, up 267.18 points (3.26%) from the previous trading day. This rebound is believed to have been driven by bargain-hunting following the previous day’s 9.99% plunge, which triggered a circuit breaker.
In terms of market participants, retail investors and institutions recorded net purchases of 2.8917 trillion won and 2.1338 trillion won, respectively. In contrast, foreign investors recorded net sales of 5.1581 trillion won.
Market observers believe that while rebound buying followed the previous day’s plunge, SamsungElectronics’ strong performance drove the index’s rebound. However, analysts note that caution remains due to the sluggish U.S. semiconductor sector, Micron’s upcoming earnings report, and the release of the U.S. May Personal Consumption Expenditures (PCE) price index.
Lee Kyung-min, an analyst at DaishinSecurities, noted, “The KOSPI turned bullish as rebound buying flowed in following the previous day’s sharp decline,” but added, “As the market awaits Micron’s earnings report and the U.S. May PCE price index, lingering caution has led to a volatile trading session.”
He continued, “In the U.S. stock market yesterday, a clear downtrend centered on semiconductor stocks emerged due to a contraction in investor sentiment following the sharp decline in Korean semiconductor stocks,” adding, “However, in the domestic market, rebound buying flowed in following the previous day’s sharp decline, and SamsungElectronics, in particular, extended its gains on expectations of a share buyback, reclaiming the top spot in market capitalization.”
SamsungElectronics(005930), the KOSPI’s top stock by market capitalization, closed the regular session at 340,500 won, surging 9.84%. SK hynix(000660)rose 0.98% to 2.58 million won.
In addition, SAMSUNG BIOLOGICS(207940)(8.80%), SAMSUNG C&T CORPORATION(028260)(5.82%), SamsungElectronics(1P)(005935)(5.43%), Samsung Life Insurance(032830)(1.88%), and LG Energy Solution(373220)(0.97%) all rose. On the other hand, SKSQUARE(402340)(-1.80%), SamsungElectroMechanics(009150)(-1.31%), HyundaiMotor(005380)(-0.39%), and HD HYUNDAI HEAVY INDUSTRIES(329180)(-0.17%) were among the decliners.
The KOSDAQ market also closed higher. The KOSDAQ index finished at 909.31, up 17.79 points (2.00%) from the previous trading day.
In the KOSDAQ market, institutional investors were the only net buyers, purchasing 3441억원 worth of shares. In contrast, retail investors and foreign investors were net sellers, offloading 3593억원 and 63억원 worth of shares, respectively.
Alteogen Inc.(196170), the stock with the largest market capitalization on the KOSDAQ, surged 11.56% to 371,500 won. ECOPRO CO., LTD(086520)rose 4.56% to 107,700 won.
In addition, #ECOPRO BM CO., LTD. (1.06%), #Rainbow Robotics (2.39%), #Kolon TissueGene, Inc. (6.20%), #WONIK IPS Co.,Ltd. (0.33%), HLB INC. (5.89%), #EO Technics Co., Ltd. (5.76%), and #LigaChem Biosciences (10.58%) all posted gains. In contrast, JUSUNG ENGINEERING Co.,Ltd. (-0.98%) saw a decline.