The KOSPI index surged over 8% during trading on June 12, breaking the 8400 mark as foreign and institutional investors poured in over 5 trillion won. This surge triggered a buying sidecar, reflecting a strong appetite for riskier assets. Major stocks, including Samsung Electronics and SK Hynix, led the index's rise.
As of 1:29 PM, the KOSPI was up 654.32 points (8.44%) at 8418.92, according to the Korea Exchange.
The index opened at 8263.85, rising by 499.90 points (6.44%) before surpassing 8400.
In the early trading session, a buying sidecar was activated in the securities market. The Korea Exchange announced that it halted the effectiveness of program buy orders for five minutes at 9:06 AM due to a sharp rise in KOSPI 200 futures, which jumped 7.76% to 1332.00 points.
Demand was robust, with foreign and institutional investors net buying 2.4589 trillion won and 3.2953 trillion won, respectively, driving the index higher. In contrast, individual investors sold off 5.558 trillion won.
Most large-cap stocks showed strong performance. Samsung Electronics rose by 12.29%, SK Hynix by 8.90%, SK Square by 13.93%, Samsung Life by 8.63%, Samsung C&T by 6.83%, Hyundai Motor by 5.70%, and LG Energy Solution by 4.55%. However, Samsung Electro-Mechanics, which had seen recent gains, dipped by 0.11% as it took a breather.
The KOSDAQ also experienced a rise, with the index up 49.45 points (4.96%) at 1046.38 at the same time.
In the KOSDAQ market, institutions net bought 482.2 billion won, while individuals and foreigners sold off 75 billion won and 427.1 billion won, respectively.
Among the top market-cap stocks, EcoPro BM rose by 5.72%, EcoPro by 7.72%, Rainbow Robotics by 8.26%, and Rino Technology by 8.42%. Meanwhile, Wonik IPS surged to its price limit, hitting the upper limit. However, some biotech stocks, including Alteogen (-0.14%) and Peptron (-0.21%), showed weakness.
* This article has been translated by AI.
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