South Korea’s KOSPI closed a volatile trading week on a stronger note after semiconductor stocks fuelled a sharp rebound on Friday, although the benchmark index still posted a weekly loss following heavy selling earlier in the week.
The KOSPI ended Friday at 7,475.94, gaining 184.03 points or 2.52%, recovering from sharp declines seen during the week. Despite the rally, the benchmark remained down 7.57% for the week, according to countryeconomy data.
The week began with the KOSPI closing at 8,051.33 on July 6, down 0.46% from the previous session, before suffering a steep 4.91% decline to 7,656.31 on July 7 as broad-based risk aversion triggered heavy selling across the market.
Buying interest returned strongly on Friday after overnight gains on Wall Street boosted sentiment towards semiconductor stocks. The benchmark opened 3.57% higher at 7,552.49 and briefly climbed above the 7,700 level during intraday trading before easing to finish at 7,475.94.
Institutional investors provided early support, particularly in semiconductor counters, while foreign and retail investors turned net sellers later in the session. The sharp rally was strong enough to trigger a buy-side sidecar during trading, highlighting the market’s heightened volatility.
Semiconductor heavyweights Samsung Electronics and SK Hynix led the rebound, while securities stocks also advanced on expectations that stronger market turnover would support earnings. The gains helped offset part of the losses accumulated earlier in the week.
Trading activity remained robust, with 449.53 million shares changing hands worth 31.16 trillion won. Market breadth was overwhelmingly positive, with 799 gainers against 92 losers. Meanwhile, the Korean won strengthened slightly to 1,501.4 against the US dollar, appreciating by 4.7 won from the previous session.
