South Korean shares extended their winning streak to a second session on July 10, with the Kospi jumping 184.03 points, or 2.52%, to close at 7,475.94, driven by strong gains in semiconductor stocks following Wall Street’s overnight advance.
According to Yonhap, the benchmark index opened more than 3% higher and surged as much as 5.7% during the session, triggering a temporary halt to program trading in Kospi-listed shares. The index later pared some gains as investors took profits, but still ended firmly in positive territory.
Trading activity was moderate, with 449.53 million shares worth 31.16 trillion won (US$20.73 billion) changing hands. Advancers overwhelmed decliners, with 799 stocks rising compared with 92 falling.
Institutional investors led the buying spree with a net purchase of 1.13 trillion won in shares, while retail and foreign investors recorded net selling.
Large-cap technology shares powered the rally, with Samsung Electronics gaining 2.52% to 285,000 won, while SK Square jumped 6.18% and Samsung Electro-Mechanics climbed 6.1%. SK Hynix slipped 0.27% to 2.18 million won after an earlier advance ahead of its Nasdaq debut through its American depositary receipts.
Market sentiment was buoyed by stronger US equities, where the Nasdaq Composite rose 1.3% overnight, alongside easing oil prices that helped support risk appetite.
