FX.co ★ South Korean Shares Stage Strong Rebound

On Tuesday, the benchmark KOSPI index experienced a nearly 5% rise, reaching approximately 5,195, after overcoming a sharp decline in the previous session. This rebound was influenced by an improved global sentiment and strategic bargain hunting. The increase coincided with gains recorded on Wall Street, as US manufacturing activity expanded for the first time in a year, alleviating growth concerns and enhancing the risk appetite for Korea's export-intensive, semiconductor-driven market. Following a 5.3% drop on Monday, local investors swiftly capitalized on the opportunity by purchasing undervalued large-cap stocks, leading to surging futures and a resurgence of strong buying. Semiconductor heavyweights spearheaded the recovery, with significant contributions from Samsung Electronics, up by 6.9%, and SK hynix, rising 8.1%. Other prominent gainers included Hyundai Motor (1.6%), LG Energy Solution (2.2%), SK Square (5.7%), Hanwha Aerospace (4.0%), HD Hyundai Heavy Industries (4.7%), and Doosan Enerbility (3.3%).