The KOSPI soared more than 6% intraday on the 28th, climbing back above the 6,000 mark for the first time in 10 trading sessions. The intraday high rose to 6,003.22.
As of 11:59 a.m., the KOSPI was trading at 5,980.78, up 342.44 points (6.07%) from the previous session. The index opened at 5,763.85, up 125.51 points (2.23%) from the previous close, and the gains then widened sharply. As the rally steepened, a buy-side sidecar was triggered for a second straight day, following the 27th. Around 11 a.m. the index hit 6,003.22 (6.47%), regaining the 6,000 level intraday.
The rise is being led by two-way buying from foreigners and institutions. As of the same time, foreigners had bought 764 billion won and institutions 1.0601 trillion won worth of shares, while individuals sold 1.799 trillion won.
On Wall Street overnight, semiconductor stocks gained strength on factors including the initial public offering (IPO) filing by AI company Anthropic. On the 27th (local time), the S&P 500 closed up 45.83 points (0.60%) at 7,722.60, and the tech-heavy Nasdaq Composite rose 308.43 points (1.18%) to 26,477.81. The Dow Jones Industrial Average, up 15.99 points (0.03%) at 52,377.57, was virtually unchanged.
By stock, SK hynix is up more than 8% as its gains intensified during the session, after it announced strong third-quarter results and an additional shareholder return plan worth 60 trillion won. SK Square is also up 9.42%.
SK hynix reported revenue of 104.6155 trillion won and operating profit of 83.3334 trillion won, both record highs. Its operating margin was 79.7%. The company plans to return more than 60 trillion won to shareholders through share buybacks and cancellations.