KOSPI claws back about half of Monday's rout on retail buying

by Joseph Kwak Posted : June 9, 2026, 09:37Updated : June 9, 2026, 10:08
Graphics by AJP Song Ji-yoon
Graphics by AJP Song Ji-yoon
SEOUL, June 09 (AJP) -South Korea's benchmark KOSPI rebounded nearly 4 percent at the opening bell Tuesday as retail investors rushed in to buy stocks battered in the previous session's 8 percent selloff.

The buying centered on the country's memory-chip giants. SK hynix jumped 6.2 percent to 2,030,000 won ($1,326.2) after sliding nearly 8 percent a day earlier, while Samsung Electronics rose 4.0 percent to 307,250 won following a roughly 10 percent plunge. The KOSPI was up 3.3 percent at 7,732.74 as of 9:30 a.m.

The breadth of the rebound reflected the scale of Monday's rout, with 767 stocks advancing against just 111 decliners, a near-complete reversal from the previous session when losers outnumbered gainers by more than 20 to one.

The recovery quickly unwound Monday's sector rotation. NAVER, which had surged 9.2 percent as investors sought refuge from the chip selloff, retreated at the open, while semiconductor shares led the rebound.

The reversal suggested investors viewed Monday's plunge less as a fundamental reassessment and more as a bout of panic selling, with bargain hunters returning to the artificial intelligence-driven chip trade that had been dumped a day earlier.

Domestic retail investors drove the recovery. Individuals bought a net 343.8 billion won worth of shares in early trading, while foreign investors sold a net 196.4 billion won and institutions unloaded 152.1 billion won in the opposite scene of the previous  session.  

The divergence suggested the rebound was being sustained primarily by domestic conviction rather than a return of foreign capital, raising questions about its durability if overseas selling persists.

The gains followed a steadier session on Wall Street overnight. The Nasdaq Composite rose 220.2 points to 25,929.7 as U.S. semiconductor shares recovered part of Friday's sharp losses, although the Dow Jones Industrial Average slipped 80.8 points to 50,786.0.

The KOSDAQ, home to many technology and biotechnology firms, rose 3.6 percent to 944.4, while the KOSPI 200 advanced 4.4 percent to 1,238.5.

The won remained under pressure despite what traders viewed as official efforts to slow its decline. The dollar traded at 1,532.9 won, up 5.1 won from the previous session.